Advantages of using a property LLP

A limited liability partnership (LLP) can be used for a property business and offers some advantages over unincorporated businesses and limited liability companies. A property LLP is something of a halfway house, providing the comfort of limited liability with the flexibility as to how profits are shared. The use of...

Make the most of the dividend allowance

The 2020/21 tax year comes to an end on 5 April 2021. The last few months of the year are a good time to undertake a review and to ensure that allowance for the year is not wasted. Nature of the dividend allowance One allowance that is available to all taxpayers,...

What tax do I need to pay by 31 January 2021?

The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021. If you miss this deadline, you will automatically receive a late filing penalty of £100, however HMRC have just released guidance that the filing penalty will be wavered providing the tax return is filed...

Make the most of your spare time

In the current economic climate, many people are looking for ways to increase household income. The trading allowance may be particularly useful to employees who also have small part time earnings from self-employment as it enables them to receive tax-free income of up to £1,000 with no requirement to...

Rent-a-room relief

The rent-a-room scheme allows those with a spare room in their home to let it out furnished and to receive rental income of £7,500 tax-free each year without the need to declare it to HMRC. Where more than one person receives the income, each can receive £3,750 tax-free. The...

Tax implications of making loans to directors

Where a family company has cash in the bank but profits have been adversely affected by the pandemic, directors of a family company may wish to take a short term loan to enable them to meet personal bills, with a view to clearing the loan with a dividend payment...

Commercial Property Capital Allowance Claim Service

Do you own a commercial property in your business? If you do, then you will be delighted to hear that we have now working in partnership with S-Tax who is one of the UK’s leading commercial property Capital Allowance claim specialists, to ensure that our clients claim the maximum amount...

Research & Development Claim Service

Research and development (R&D) tax credits are a valuable government tax relief that rewards British Companies for investing in innovation. However, in order to make a successful R&D claim it requires extremely specialist and highly experienced work. It is for this reason why we can proudly announce our partnership...

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