Newsletters
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Could HMRC recategorise your subcontractors?
You use subcontractors for all your building projects and almost always the same individuals. You’ve heard that this could increase the risk of HMRC recategorising them as employees. What steps can you take to counter this?
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First year discount: can you make a belated claim?
Your business has used the flat rate scheme since you registered for VAT three years ago. A colleague says that you should have reduced your relevant percentage by 1% in the first year. Is this correct and is it too late to claim the discount?
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Can you beat the bonus tax trap?
A fellow director has asked whether his bonus payment can be delayed until after 5 April 2026 to reduce his personal tax bill. Does his plan work and, if so, how does it impact the company’s tax position?
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Clear loan accounts before tax hike
The end of the tax year means one thing - finalising your profit extraction plan. Your director’s loan account is overdrawn but you know you have several months to pay it off. Can you save money by paying it now?
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Review how much VAT charged on sales?
A recent Tribunal case ruled that HMRC’s logic was flawed in dealing with a “what is the supply” challenge. Does this mean you should check that you are charging VAT correctly on your sales if there could be doubt about what you are selling?
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Are buy-to-let companies worth the hype?
There’s no doubt that landlords have been on the receiving end of multiple tax hikes in recent years. So called “property experts” will tell you that the best tax-saving strategy is to operate through a company. Are they right?
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Tax relief for lending to your company
You can usually claim tax relief for money you borrow personally to lend to your company. It sounds straightforward but there are in fact a number of restrictions to trip you up. How do you secure the tax relief?
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Cut your losses to get a tax refund
You invested in a company that’s now in dire straits and your shares are worth next to nothing. Selling them isn’t an option so how do you go about getting some tax back on your bad investment?
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Why do frozen mileage rates affect VAT?
Your business pays a fixed mileage allowance to staff who use their private cars for business travel. The rates published by HMRC have been frozen since 2011 but is this relevant to determine how much input tax you can claim on the payments?