Sole trade, partnership, or company?
16 February 2024
Whether you’re just starting out in business, or have been at it for a while, there are three main types of ‘trading vehicle’ to consider if you want to make…
Capital Gains Tax & Incorporation
16 February 2024
The owner(s) of a an unincorporated business (eg, a sole trade or partnership) might decide to incorporate for various reasons. For example, - to secure the protection of limited liability,…
VAT – Business splitting
16 February 2024
VAT registration is compulsory if your turnover exceeds £85,000p.a. Some businesses register for VAT voluntarily, and well before they breach the compulsory registration threshold, but only because it can be…
Corporation Tax losses & tax relief
16 February 2024
Best use of Corporation Tax losses Significant changes to the relief of Corporation Tax losses were introduced in 2017. The following is a summary of where we are now: Losses…
Immediate tax liability on residential property sales
16 February 2024
If you own a holiday let, second home or a buy to let property and are thinking of selling you will have just 60 days post transaction to complete and…
Contractors and the VAT reverse charge
16 February 2024
From March 2021, many subcontractors and contractors in the ‘construction industry’ are subject to the VAT ‘reverse charge system’, as HMRC try to reduce VAT fraud by limiting the scope…
Buy a Business in the Lake District
13 February 2024
Buying a business Buying a business in the Lake District is a dream for many, but it is also a huge decision and fraught with risk, so it’s essential that…
Contractors – the ‘IR35’ tax rules
13 February 2024
IR35 legislation can render your earnings subject to PAYE even though you believe you are effectively 'self employed', and can therefore cost you dearly if you don't know the rules.…
