Many companies use 31 March as the accounting reference date. As such, now is a good time to review the position of directors’ current accounts for close companies. It is a common misunderstanding that if the company charges a commercial… Read more

The Budget saw an announcement that the loss relief provisions available to both unincorporated business and companies are to be temporarily extended. There are differences in the way this will operate between the two types of business vehicle. Unincorporated businesses The affected… Read more

Budget The Budget finally took place on 3 March 2021. None of the speculated tax changes, e.g. raising CGT came to pass, although the main rate of corporation tax will increase in 2023. Several allowances, such as the personal allowance… Read more

Q. I am looking at buying a rundown pub/restaurant ready for this summer, assuming it will be allowed to open. I need to spend approximately £100,000 on building works. Can I register for VAT straightaway or do I need to… Read more

When preparing a tax returns, it is easy to look at a dividend statement from a VCT and think “It”s exempt” and simply file it away. Of course, in most cases this is probably sufficient. However, sometimes a little more… Read more