It is not uncommon for directors of a company to take loans from the business during each financial year, often to cover unexpected bills. However, you must keep track of any directors’ loans – money withdrawn from the company that … Continue reading
How to maximise tax relief on losses to offset higher employment costs
The recent rise in employers’ National Insurance Contributions (NICs) to 15 per cent will lead to a 60 per cent increase in NIC costs for a business employing minimum wage staff, according to the Centre for Policy Studies. With no … Continue reading
How HMRC treats cryptoassets disposed of by businesses
Cryptoassets make up a growing portion of the market, and businesses are increasingly looking to take advantage of these digital currencies. If your business carries out activities involving the exchange of cryptoassets, then you are liable to pay tax on … Continue reading
HMRC is closing its free Company Tax Return service
HM Revenue & Customs (HMRC) will permanently close its free service for submitting Company Tax Returns and annual accounts on 31 March 2026. Built over a decade ago for simpler businesses, the platform no longer meets modern digital standards. Companies … Continue reading
Joint owners of Furnished Holiday Lets prepare for increased taxes
With the abolishment of the specific tax considerations for Furnished Holiday Lets (FHL) from the beginning of the current tax year, owners need to prepare for higher tax bills. Given that couples and joint owners of FHL benefited from specific … Continue reading
