When can a trading loss generate a tax refund
Making a trading loss whilst not ideal can sometimes generate a tax refund. If you are a self-employed individual or a member of a trading partnerships, a trading loss can potentially be set against
Is your company paying Corporation Tax at the right rate?
The rate of Corporation Tax payable depends mainly on the level of a company’s taxable profits. The main rate is 25% and applies where profits exceed £250,000. Companies with profits of £50,000 or
Could company dividend rules be changing?
The Government has announced plans to consider major changes to the rules governing when companies can make distributions to shareholder. As part of a wider corporate reporting overhaul announced on
Nearly 660 employers named for minimum wage failures
The Government has named nearly 660 employers for failing to pay workers the National Minimum Wage, highlighting how costly National Minimum Wage compliance failures can become. The latest naming
Is your VAT control system strong enough?
A strong VAT control system should clearly identify who is responsible for VAT, document the processes involved and regularly check that controls are working. HMRC also recommends keeping procedures
Could company distribution rules change?
The tax rules concerning what constitutes a distribution for tax purposes have remained largely unchanged since Corporation Tax was introduced in 1965. HMRC has recently published a consultation