Distributions On Company Cessations On cessation many directors find that monies have accumulated over the years which need to be distributed to shareholders before closure – preferably in the most tax efficient way. Dividends may have been made to the full extent possible from realised profits previously but there may still be further monies to …
Making A Formal Complaint Against HMRC Sometimes a taxpayer may find themselves in a position whereby HMRC seem to be taking an inordinate amount of time to settle a particular issue or the service received as a ‘customer’ does not meet the standards expected or even that they feel they are being discriminated against. Although …
Extracting Profits From A Property Company Running a property business through a limited company rather than as an unincorporated business may be an attractive proposition; at 19% the rate of corporation tax is lower than the basic rate of income tax and interest and financing costs are fully deductible in computing taxable profits. However, the …
Expenses And Benefit Returns For 2020/21 Expenses and benefits returns P11D and P11D(b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties may be charged for returns that are filed late. Form P11D A form P11D must be filed for every employee who has been provided with …
