by Ruth Clark | Jul 31, 2023 | Uncategorised
Paying dividends to close family members: Tax traps In a family company scenario, it can be tax-efficient to make salary and dividend payments to family members to utilise their unused allowances and lower-rate tax bands. However, when it comes to paying dividends,... 
by Ruth Clark | Jul 26, 2023 | Tax
P11D and P11D(b) forms from April 6, 2023, now need to be filed online by July 6 following a rule change from HMRC. If employers need to make amendments to any returns that have already been filed, these should also be made online through a new form via the expenses... 
by Ruth Clark | Jul 24, 2023 | Tax
Concept of ATED Annual Tax on Enveloped Dwellings (ATED) is payable by companies owning residential properties valued at more than £500,000. ATED return needs to be filed if your property: Is a dwelling. Is in the UK. Valued more than £500,000. Is owned completely or... 
by Ruth Clark | Jul 19, 2023 | Uncategorised
The threshold for people taxed through PAYE who are required to file a self-assessment return has increased from £100,000 to £150,000. Those affected should be contacted by HMRC if they need to change anything. That said, there have been times in the past where HMRC... 
by Ruth Clark | Jul 17, 2023 | HMRC, VAT
VAT: An inspector calls! A business will have a visit from a VAT inspector for one of two reasons; a routine visit after selection by the HMRC computer based on the type of business and the level of turnover, or if the business has an unexpectedly large VAT repayment....