Changes to taxable benefits from April 2017
May 23rd, 2017

The good news, the way in which benefits in kind are taxed – company cars, mobile phones, etc. – is unchanged for the tax year just ended, to 5 April 2017. Consequently, you can expect your tax position regarding any benefits you enjoy to be unchanged for 2016-17; as long as the benefits themselves have […]

Damage limitation
May 17th, 2017

The phrase “in-limbo” comes to mind when describing the present outlook for businesses in the UK. What will be the outcome of the June election? What will be the outcome of the withdrawal from the EU? We will all likely be affected. If not directly involved in trade with Europe, we are possibly part of […]

What is the current tax position when dividends are taken
May 15th, 2017

One of the most useful ways for owner directors of small companies to reduce their overall tax and NIC costs is to pay themselves a reduced salary – just enough to maintain their State benefits entitlements – and take any balance of remuneration in the form of tax efficient benefits and dividends. Government has changed […]

The new Criminal Finances Bill
May 11th, 2017

New legislation to increase the powers of law enforcement received Royal Assent 27 April 2017. The Criminal Finances Act 2017 will give law enforcement agencies and partners, further capabilities and powers to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism. The act: creates unexplained wealth […]

Change in accounts filing for small companies
May 10th, 2017

Small companies are required to file a copy of their end of year accounts with Companies House. In the past, it has been possible to file abbreviated accounts – basically, a few notes and a Balance Sheet with very little data regarding profitability – for smaller companies this has restricted the amount of financial information […]

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