An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any,

There are special rules for the taxation of post-cessation receipts after a trade has ceased. The legislation clearly states that the person who receives or is entitled to the

A Close Company is broadly defined as a company that is controlled by:

five or fewer participators or
any number of participators who are also directors or
where more than

Where employees were provided with taxable benefits and expenses in 2018/19, these must be notified to HMRC. The reporting requirements depend on whether the benefits were payrolled or not. Benefits […]

Topic:- Claiming a deduction for pre-letting expenses For tax purposes, a property rental business begins when the first property is let. However, it is likely that the landlord will have […]

The payment of National Insurance contributions provides the mechanism by which an an individual builds up their entitlement to the state pension and certain contributory benefits. Different classes of contribution […]

On Wednesday 01 May 2019 at London Excel, Makesworth Accountants was announced as a finalist on the 2019 British Accounting Marketing Awards. Makesworth Accountants is privileged to announce as a […]

The National Living Wage (NLW) and National Minimum Wage (NMW) increased from 1 April 2019. From that date, the NLW, payable to workers aged 25 and over, is set at […]

Where property is jointly-owned, the way in which the rental income can be split between the joint owners for tax purposes depends on whether the joint owners are married or […]

For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have the 35 qualifying years necessary […]