Tax Return Adviser Ltd
Newsletters
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Avoid a PAYE trap for end of year bonuses
Your company’s financial year ends soon. It’s been a good year for the business and the directors and staff are to be paid bonuses. The amounts have been decided but payments won’t be made for several months. When is the PAYE tax and NI due?
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Will a time-to-pay agreement help?
A new penalty regime for late VAT payments started on 1 January 2023. Can you avoid a penalty by agreeing a time-to-pay (TTP) arrangement with HMRC and what happens if you break the agreement?
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Problems with paying workers in cash
You hired a couple of individuals to tidy and clear part of your premises. They’ve completed the job and asked to be paid in cash. The receipt they gave was hand written on a scrap of paper. Might this cause trouble with HMRC?
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Closing a company - last ditch tax planning
You and the other shareholders are closing down a company that’s no longer needed. You’ll each make a substantial capital gain when its funds are distributed. How can you reduce the resulting tax bills?
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Low-key Budget brings pension tax reform
The 2023 Spring Budget was expected to be relatively quiet on tax measures, and this was largely the case. However, there were still some announcements to take note of. What were the highlights?
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Maximise tax relief for bad debts
Your company’s financial year ends shortly and the management accounts show a higher than usual number of bad debts. However, HMRC’s rules won’t allow tax relief for all of them. What steps can you take to improve the situation?
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