by admin | Feb 29, 2024 | Business |
HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal judgment. The update announced that effective from 1 July 2024, DCPUs with a payload of one tonne or more would be treated...
by admin | Jul 20, 2023 | Business |
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions (usually described as dividends) and may be subject to Income Tax. If certain conditions are met, the payment can be treated as an exempt distribution. An...
by admin | Mar 30, 2023 | Business |
Company share buy-backs are also commonly known as a company purchase of own shares. A company may decide to buy back their shares for a number of reasons including to return cash to shareholders or to provide for a shareholder exit. The relevant legislation allows a...
by admin | Feb 16, 2023 | Business |
Business rates is the commonly used term for non-domestic property rates. Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts...
by admin | Dec 15, 2022 | Business |
Tax relief may be available for post-cessation expenses of a trade. In order to be an allowable post-cessation expense, the trade must have ceased, and the expense must have been deductible in calculating the trading profits. This means that the expense still has to...
by admin | Nov 17, 2022 | Business |
Forthcoming 'basis of assessment' reforms will change the way trading income is allocated to tax years for the self-employed. The changes will affect sole traders and partnerships that use an accounting date between 6 April and 30 March. There is no...
Recent Comments