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