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Loans to Participators Trap - (Overdrawn Directors' Loan Accounts)

Loans to Participators Trap - (Overdrawn Directors' Loan Accounts) The 2013 Budget announcements included a brief outline of how the law will be changed to tax loans taken out of owner-mana...

Rate of tax on overdrawn director’s loan accounts (loans to participators charge)

Rate of tax on overdrawn director’s loan accounts (loans to participators charge)   With effect from 6 April 2016, if your director’s loan account is overdrawn, the rate of...

Corporation tax - Autumn Statement

Corporation Tax Loans to participators, trustees of charitable trusts Legislation will be introduced in Finance Bill 2016 to provide for an exemption from the tax charge on loans or advance...

Interest-free loan for rail fare ticket

Q. My employer has offered to give me an interest-free loan to purchase an annual rail fare ticket costing £3,500. Will I have to pay tax on the loan?  A. Strictly, the taxable benef...

Restricted Losses Ahead

Restricted Losses Ahead   A lot of businesses have made significant losses in the current recession and will continue to make losses for a while yet. Where those losses are made outsid...

PGLs for employers

The Department for Education has launched a new Student Loan product known as Postgraduate Loans (PGLs). From April 2019, individuals will be able to start loan repayments of this type through PAYE...

Property Letting-interest restriction-Property Impact Review

Property letting – restricted – Find out the impact  this will have on you in real numbers From 6th April 2017 tax relief on loan interest for landlords of residential property...

Student Loan Notices

Student Loan Notices As an employer you are required to collect repayments of student loans your employees took out through the Student Loan Company (SLC) while they were studying, during years...

Completing Forms P11D

Completing Forms P11D   It's time to complete forms P11D, to report expenses (which were not included in your dispensation agreement with the Tax Office) and benefits paid to your ...

Expenses and Benefits Reporting

Expenses and Benefits Reporting The deadline for submitting the annual returns of expenses and benefits (forms P11D and P9D) to HMRC is 6 July 2013. The form P11D (P9D for those paid less ...

CGT on Home Developments

CGT on Home Developments Your main home is exempt from capital gains tax when you sell it, but only if you bought the property with the intention of living in it on a permanent basis, not as a ...

Trivial benefits

Trivial benefits Employers will be aware that various changes have been made to the reporting requirements for employee benefits and expenses from April 2016, which mean that some employer...

Q. How is an estate valued for inheritance tax purposes?

Q. How is an estate valued for inheritance tax purposes? A. Inheritance tax on death will be calculated on the net value of the estate. The net value of an estate is effectively assets les...

Spring Budget 2017 - Businesses

Businesses Making Tax Digital for Business The provisions for the government's Making Tax Digital project will be legislated for in Finance Bill 2017. However, the mandatory start date ...

March Budget - Investments

March Budget - Investments Seed Enterprise Investment Scheme (SEIS)  The SEIS was introduced for a limited five year period from 1 April 2012. The SEIS has now been made permanent, wi...
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