Distributions on cessation of a company

Distributions on cessation of a company

3 May 2022 | News, Tax Planning

When a company closes down, it may have accumulated monies or assets that need to be distributed to shareholders. If the asset is in the form of cash then any distributions would typically be as dividends (or possibly additional contributions to a pension scheme). A...
Do I need to top up my pension?

Do I need to top up my pension?

19 Nov 2021 | News

A full single tier state pension is payable to people who have 35 qualifying years. Individuals who have less than 35 qualifying years, but at least 10 qualifying years are entitled to a reduced state pension.A person builds up qualifying years by paying sufficient...
Tax, Pension & Business Premises

Tax, Pension & Business Premises

20 Oct 2019 | News

Self-Invested Personal Pension A self-invested personal pension (SIPP) is a do-it-yourself pension that gives you a greater degree of freedom than any other pension because you’re in complete control of how and where your money is invested. You can put money...
IR35

IR35

15 Oct 2019 | News

IR35 is the term used for the ‘intermediaries legislation’, which is a set of tax rules that apply to you if you work for a client through an intermediary. An intermediary can be a limited company, a partnership or a personal service company. When workers carry out...
New Start Up

New Start Up

30 Aug 2019 | HMRC, News, Tax Planning

Allowable Expenses Understanding the allowable expenses that you can claim as a limited company can help you to reduce your corporation tax bill. According to HMRC, expenses that are incurred “wholly and exclusively” for the purpose of your business can be claimed...
Payment on account confusion

Payment on account confusion

21 Jul 2019 | HMRC, News

Under self assessment taxpayers are required to make payments on account of their tax liabilities. The payment on account instalments consist of two payments on account of equal amounts: the first on 31 January during the tax year and the second on 31 July following...