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Unpaid debts can put a limited company at risk of a winding-up petition, potentially leading to liquidation. Creditors may act via court judgments or statutory demands, forcing companies to settle debts. Learn how this process works and the
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Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can
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Making a significant investment in new equipment can be a transformative step for a business, improving efficiency, productivity, and competitiveness. However, such a decision requires careful planning and analysis to ensure the investment aligns
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Navigating financial challenges can be daunting, but understanding the tools available can make a significant difference. One such tool is a Debt Management Plan (DMP), designed to help individuals regain control over their finances. What is a Debt
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Inheritance Tax (IHT) impacts estates over £325,000, with rates of 40% on death and 20% on certain gifts. A 36% reduced rate applies if 10% of the estate is left to charity. Executors must value estates and may need to file tax returns for the
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Employers can voluntarily register to report and account for tax on certain benefits and expenses via the RTI system before the start of the tax year. This process, known as payrolling, eliminates the need to submit P11D forms for the selected
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Beneficial loans, where employees benefit from cheap or interest-free loans from their employer, can trigger tax implications. However, certain exemptions, like loans under £10,000 or qualifying loans, eliminate the need for employers to report or
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A significant amount of online information about companies is available to the public on the Companies House website. The information available through Companies House can be an important resource for anyone looking to research a company. What makes
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Selling online? Whether it’s a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it’s vital to understand self-assessment rules and new reporting obligations for online platforms starting
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HMRC reports over 63,000 taxpayers filed their returns over the New Year, but 5.4 million still need to act before the looming 31 January 2025 deadline. File now to avoid penalties, pay your 2023-24 tax, and set up payment plans if needed to stay