PAYE/NIC Late Payment Penalties
As you may be aware, since May 2010, HM Revenue is charging penalties for late payment of PAYE and National Insurance Contributions (NICs). This also
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Private Residence Relief – More Than One Residence
Principal Private Residence Relief (PPR relief) allows homeowners to sell their homes without being liable for any capital gains tax on property profits. It may
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Are You Safe from the IR35 Regulations?
As a provider of services through your own limited company, you will no doubt already be aware of the IR35 regulations. The purpose of this
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Managing Finances as a Director of a Limited Company
Can Anyone be a Director? Generally, it is up to the members (shareholder owners) to appoint the people they believe will run the company well
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Tax Treatment Payments on Termination of Employment
In certain circumstances, a lump sum payment to an employee on the termination of their employment may be tax-free. Where tax-free treatment is available it’s
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Construction Industry Scheme (CIS) Issues
On 6th April 2007, a new Construction Industry Scheme was introduced. Many of the characteristics of the previous scheme were carried over into the new
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New Capital Allowances Regime for 2024
There have been some major changes to capital allowances claims (i.e. asset depreciation rates permitted for tax purposes). Which came into effect on 1 April
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Corporation Tax Deductibility of Year End Bonuses
The application of accounting standards is important in the determination of a company’s taxable profit. Therefore, HM Revenue & Customs has recruited significant numbers of
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Annual Staff Parties, Gifts and Non Taxable Benefits
As the holiday season approaches, many businesses prepare to celebrate with annual Christmas parties. While these events foster team spirit and recognize employee contributions, employers
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Dis-incorporation – Removing a Business from a Limited Company
The process by which a business is transferred out of a limited company and carried on subsequently by a sole trader, a partnership, or a
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