There are a number of ways that director shareholders of private companies can withdraw funds from their businesses. We have listed below a number of options, the list is not exhaustive, but the points do provide insight into the opportunities that current tax law allows…
Month: June 2017
Oh what a night
It is fair to conclude that Mrs May’s ambitions suffered a set-back Thursday last week. She is now attempting to manage a minority government, and Brexit apart, there are other outstanding legislative matters that demand her attention. One is the remainder of the Finance Bill…
Recovery of VAT after deregistration
Last week we discussed in this blog, how to recover VAT paid prior to registering for VAT. This week we are going to sketch out the reverse position: how to reclaim VAT after you have deregistered. According to HMRC, you can make a claim for…
The hidden tax on car benefits for employers
Businesses that provide employees with taxable benefits: company cars, health insurance and so on, will be aware that a benefit in kind charge is added to the employee’s income and subjected to an income tax charge the same as their salary. Employers will also be…