Tax Return Adviser Ltd
Newsletters
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Invoice factoring: how do you account for VAT?
Invoice (debt) factoring is a service that businesses with cash-flow problems might consider. Broadly, it means obtaining finance secured against the value of unpaid invoices. What does this involve in practice, and does it create a VAT headache?
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Tax breaks for renting a room
Rent-a-room relief allows you to receive rent of up to £7,500 per year from letting part of your home. However, it doesn’t always work to your advantage. When should you consider disclaiming the relief?
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Transfer your business to a company tax efficiently
Transferring your sole trader or partnership business to a company can reduce tax on profits but may result in an initial capital gains tax bill. You can defer this indefinitely but might there be advantages to paying it?
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What’s the difference between an error and an adjustment?
Your business must disclose errors to HMRC above certain limits in writing. But it can include accounting “adjustments” on the next return. What are the main adjustments (that aren’t errors) that your business could make?
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The IHT exemption that HMRC hides
You have the task of obtaining probate for your mother’s estate which involves completing tricky inheritance (IHT) tax forms. One of these requires you to report lifetime gifts. How might the form’s wording cause you to miss out on an IHT exemption?
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Gifts of shares to children: direct or via a trust?
You want to give away some shares in your company to help provide an income for your children. Is it better to make a direct gift to them or should you transfer the shares to a trust with your children as beneficiaries?
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