Salford Tax Specialists Ltd Blog

Directors of owner-managed or family members companies generally take their earnings out of business via a blend of salary and dividends. It's an article of faith with lots of businesspeople that if you're mosting likely to run a business, this must be with a limited...

Many company owners locate dividends a much more appealing method to extract income than salary or incentive. Dividends do not attract National Insurance contributions. Of program, dividends must satisfy company regulation requirements (which are beyond the extent of...

Year-end tax preparation for household and also individual companiesOperating by means of a limited company can be tax-efficient and has the added benefit of restricted obligation. Nonetheless, the compliance worry is much greater than for a sole trader or...

As the tax year draws to a close, it is time to check as well as embark on any last-minute tax preparation. This should include a testimonial of available allowances for the 2022/23 tax years and factor to consider of the level to which they have yet to be utilized....

You as well as your fellow directors have actually simply landed a prestigious new client as well as you plan to commemorate in vogue. Is the company qualified to a tax deduction for such expense? Business expenses Normally, expenses sustained by a company are...

You directly have a buy-to-let property and also you additionally possess a company. The guidelines do not allow you to reclaim the VAT paid on your property letting prices. Exactly how can you utilize your company to redeem the VAT? Exempt lease Letting a property,...

Your company bought, refurbished and furnished two residential properties which have been let. You’re now preparing the first rental income accounts. Which refurbishment and start-up costs can you claim a tax deduction for? Rental business The costs of starting and...

The legal rules In order to comprehend what an unlawful dividend is, it's necessary to go into some information on what the regulation states regarding when you may pay dividends, and also when you may not. The Companies Act 2006 is among those monster acts of...

Nearly 20% of taxpayers with gains to declare from UK residential property failed to report and also pay the capital gains tax promptly in 2021/22. According to HMRC's figures, roughly 20% of taxpayers, who had gains to state from UK property, fell short to report as...