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VAT
A new way to contact the Taxman
The Taxman has at last agreed to accept e-mails, but only for VAT queries. What are the drawbacks and advantages to using this service?
Most read articles
PROFIT EXTRACTION
Is writing off a loan from your company tax efficient?
Your director’s loan account is significantly overdrawn, so your accountant suggests writing the debt off as this will be tax efficient. But you’re not so sure; you recall a change in the rules relatively recently. So should you follow his advice?
More...PROFIT EXTRACTION
The importance of dividend timing
Overdrawing your director’s loan account can land both you and your company with a tax bill. A common way of dodging this is to pay a dividend after the end of the financial year, but this won’t work in every case. Is there a better option?
More...LOANS
Tax deduction for overdraft interest
In a recent case the tribunal had to decide whether overdraft interest paid by two directors to fund their business could be claimed against their tax bills. What was the outcome?
More...EMPLOYMENT STATUS
Weight Watchers loses employment status battle
The Upper Tribunal has handed down its judgment regarding the employment status of Weight Watchers’ leaders. The Taxman won the day but the ruling includes helpful pointers for businesses using freelance contractors. What’s the full story?
More...INVESTIGATIONS
The Taxman’s new task forces
HMRC has launched five new investigation task forces with more to follow. They will carry out targeted tax enquiries. Who are these aimed at and how do they differ from normal investigations?
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