by Ruth Clark | Jun 26, 2023 | HMRC
Keep it commercial! It is common for family members to be employed within owner-managed businesses. When employing family members, taxpayers need to be aware that where remuneration is set at an uncommercial rate, HMRC may seek to disallow a portion of the expense... 
by Ruth Clark | Jun 21, 2023 | Uncategorised
Salary sacrifice is something you may have come across before but not fully understood. After all, why would anyone want to voluntarily give up some of their salary? The reality is that, in some instances, using salary sacrifice to get alternative benefits can reduce... 
by Ruth Clark | Jun 19, 2023 | Uncategorised
The section 455 tax charge is a specific tax charge levied on a close company where a loan to a ‘participator’ (normally a shareholder) is not cleared by the corporation tax due date falling nine months and one day after the end of the accounting period. The... 
by Ruth Clark | Jun 14, 2023 | Uncategorised
Anyone with an incomplete National Insurance contributions (NICs) record between April 2006 and April 2016 now has until July 31 to add to their NICs to qualify for a full State Pension after HMRC extended the deadline. Thousands of taxpayers have incomplete years in... 
by Ruth Clark | Jun 12, 2023 | Uncategorised
Incorporating a company When starting a business, it is usually as self-employed or as a partnership. As the business grows, working through a company may be considered for several reasons (limited liability being one of the more important). Tax is no longer a...