Business Advice Directory

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Tax

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Featured advice

CONSTRUCTION INDUSTRY SCHEME

No more CIS tax refunds

VAT

Leasing cars - what are the VAT pros and cons?

You’re considering leasing instead of purchasing cars for your business. This will improve cash flow and, according to the salesperson, allow you to reclaim VAT that you would not otherwise be entitled to. Are they correct?

LOANS

Make your mortgage interest tax deductible

A friend has told you that his accountant was able to get him tax relief for his home mortgage interest. As relief for this type of interest ended decades ago, how was it possible and might you be able to do the same?

PROFIT EXTRACTION

Can dividend ever be paid from loss-making company?

Dividends are generally the most tax-efficient form of income you can take from your company but they can only be paid out of profits. Despite this, might there be a way for your loss-making company to pay you a dividend?

PROPERTY

Property expenses - HMRC admits error

In late 2023 HMRC wrote to landlords suggesting they may have claimed tax relief they weren’t entitled to. It now accepts it was wrong. What’s the full story?

TRAVEL

The latest on home-to-work travel

HMRC has changed its guidance on home-to-work travel costs where an employee’s home is their workplace. How might this affect your right to tax relief?

COMPLIANCE

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?

HMRC SERVICES

How to deal with cutbacks to HMRC’s helplines?

HMRC recently announced that it would cut its VAT helpline service to five days a month. This decision was quickly reversed but the U-turn is likely to be temporary. What alternative options do you have to deal with your VAT queries?