The loan charge controversy continues

Oct 04, 2019

The following press release was published by HMRC last month. Extracts are reproduced below:

Sir Amyas Morse, the former Comptroller and Auditor General and Chief Executive of the National…

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Tax Diary October/November 2019

Oct 04, 2019

1 October 2019 - Due date for Corporation Tax due for the year ended 31 December 2018.

19 October 2019 - PAYE and NIC deductions due for month ended 5 October 2019. (If you pay your tax electronically…

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Do you need to file a tax return?

Oct 03, 2019

The following guidelines are reproduced from the government’s website:

You must send a tax return if, in the last tax year (6 April to 5 April), you were:

  • self-employed…

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All is not lost

Oct 01, 2019

If your business makes a trading loss its ability to survive the loss will depend on a number of issues. They include:

  • Did your business have sufficient reserves to absorb the loss?
  • If…

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Getting ready for EU exit 31 October 2019

Sep 26, 2019

HMRC has published a check list of issues you will need to deal with prior to 31 October 2019.

The check list has been sent to all businesses that already trade with the EU or the rest of the…

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Can you claim back the VAT when you buy a car?

Sep 24, 2019

The short answer to this question is a resounding “no”, but as always with tax, there are exceptions.

Obviously, if you are in business and not VAT registered, you cannot reclaim the VAT added…

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Does your employer pay for your private petrol?

Sep 19, 2019

A reminder that you can avoid the hefty car fuel benefit charge if you drive a company car and your employer pays for your private fuel.

One way to achieve this is to repay your company for…

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How much tax do you pay on your dividends?

Sep 19, 2019

If you own a small limited company your shares entitle you to draw a return on your shareholding – in common parlance these returns are called dividends.

A company can only pay dividends if…

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Unclaimed estates

Sep 16, 2019

There is nothing more intriguing that the notion we may be due untold riches from undisclosed sources. For example, do you have any premium bonds, and did you notify the registrar the last time you…

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