Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so....

Bad debts pose a significant challenge for every business. Staying on top of non-payments is essential for maintaining a healthy cash...

Dividends can only be declared out of a company’s available undistributed profits and even if the bank account is in credit as at the...

In a partnership, the activities are considered to be conducted by the individual partners rather than the partnership itself, as a...

HMRC publish a property rental toolkit which can be used to avoid making common errors when reporting income from property on the Self...

Using a Self Invested Personal Pension (SIPP) to hold commercial property which can be rented to your personal or family company can be...

All good things come to an end, and a property rental business is no exception. However, expenses may be incurred in relation to that...

Adjusted net income is a key measure of income for tax purposes. It is total taxable income before taking account of any personal...

Simple Assessment is used by HMRC to collect tax underpayments from taxpayers with straightforward tax affairs. It removes the need for...

If you are running a business, regardless of whether you operate as a sole trader, in partnership or the business is run as a limited...

There are many possible situations in which a person may make a loan to a family member, for example, a parent may lend money to an adult...

Cars are a special case when it comes to capital allowances. While capital allowances may be claimed on cars used in a business, partners...

Although many companies are facing difficult times, some have managed to accumulate a sizeable amount of cash in their business's current...

Tax bills need to be paid on time otherwise interest and possibly penalties will accrue. HMRC is amenable to payment by instalments under...

The hot weather often brings thoughts of holidays, but for those in business, work is always on the mind. So, what is the tax position if...

Many businesses strive to keep their turnover under the VAT registration limit (currently £90,000) because not only are they wary of the...

For most employees, National Insurance contributions (NIC) earnings periods are calculated based on their regular pay intervals. In...

For many of HMRC's 'customers' who have spent more than 30 minutes trying to get through on the phone, the thought of making a formal...

Employers are able to provide employees with a range of health and welfare benefits without giving rise to a tax charge under the...

Self-employed earners whose earnings exceed the lower profits limit (set at £12,570 for 2025/26) must pay Class 4 National Insurance...