Last week we went through 5 tax tips when filing your Income Tax return. In case you missed it see here This week we will look at another 5 tax tips that are Flat rate expenses Home carer Credit Medical Expenses Pre-letting expenses and Tuition fees Flat rate expenses Certain employments get a flat rate
The team here is very busy getting accounts and tax returns sorted out for clients. We are smack bang in the middle of tax return filing season. In our last blog we highlighted some of the “beasties” to be aware of when filing your 2020 Tax return. In case you missed it click here. This
We did some in-house training yesterday and the focus was on the upcoming Income tax return season. Tax returns are not easy, and our consistent message is not to do your own. We saw an example of this last week when a client whose circumstances had changed said he would do his own return. This
This week we are going to look at company reorganisations and passing on your business. The goal is that your son or daughter gets the business but not all the other wealth in the business. By other wealth, we mean excess cash, shares, investment bonds, and rental properties. We will look at The Good, the
This week we are going to look at the tax implications of taking a loan from your company. We will look at Setting the scene Company Tax Benefit in Kind [BIK] Loans not caught Can Teddy do better? Summary Setting the scene? Teddy Moore set up a new company in February of 2020 called Getmoore
It is a normal question for the exiting shareholder to ask. In the call I had, it was different. It was more to do with the strategy of the business owner and what approach to take. We will look at options to exit your company: The stars The question One solution Another route Tony at
What a great week of weather before the schools go back. The very old [should be in a museum] writer of this hit 49 yesterday. He’s delighted to be still in his 40’s. There will be no mention of birthdays this time next year. A flock of quarrelsome crows was my alarm clock this morning.
Two weeks ago, we looked at a Tax Strategy for a growing business. In case you missed it see here This week we are looking at a Tax strategy for the Directors who want to exit their business. The main points are Exit Plan Meet Reg Look at gifting shares to Megan Paulaid Ltd buying
Last week we looked at a Tax Strategy for a sole trader/partnership business. In case you missed it see here This week we will look at a Tax Strategy for a limited company. The main topics we will cover are Company set-up – getting it right Transferring a sole trader business to a company Salary,
Over the next few weeks, we are going to look at a Tax Strategy for your business. We will start with a sole trader/partnership and look at a limited company next week. The reason for this is to give you some ideas in this space. You want your business to be as lean and efficient
