ATED – New Property Tax

The annual tax on enveloped dwellings (ATED) came into effect on 1 April 2013. This new property tax applies to residential properties in the UK worth over £2 million, which are owned by a non-natural person, such as a company, trust or partnership that includes a...
Advantages of a private limited company

Advantages of a private limited company

Advantages of a private limited company The main advantages of a private limited company or a Limited Liability Partnership (LLP) is the protection from unlimited liability in the event you can’t pay your creditors, and the tax advantages of a private limited company....

Directors Loan Trap

The 2013 Budget announcements included a brief outline of how the law will be changed to tax a shareholders/directors loan taken out of owner-managed companies by the shareholders/directors (herein directors). We have now seen the draft legislation so we can give you...
Tax Return Filing Dates and Penalties

Tax Return Filing Dates and Penalties

Personal Tax Return If you are required to complete a return, they are normally issued to you at the beginning of April each year. The basic return is 10 pages but many sources of income require supplementary pages to be completed as well. Some people receive a short...
Q&A: Can I pay my wife while on maternity leave?

Q&A: Can I pay my wife while on maternity leave?

Q. I formed my new company in November 2012 and I pay wages to my wife because she became a director and employee of that company at that time and does work for the company. My wife is now expecting our first child in August 2013. Can our company pay my wife statutory...