Limited Company Formations
Starting a limited company or changing your business status to a limited company can be beneficial to your tax position. Another of the benefits is the limited liability which is bestowed on the company officers and shareholders, as personal assets are not at risk in the unfortunate event of having to wind up the business. Customers and suppliers can also have greater confidence that they are dealing with a company, which can enhance your reputation.
It is important to take reliable advice concerning such a decision. There may be good business and tax reasons to become a limited company, but great care should be taken in doing this.
We can assist in incorporating your business with companies House and HM Revenue and Customs including preparation and lodgement of all the appropriate forms. Informing you of the necessary policies and legislation and ensuring your transition to Limited Company be a smooth one.
Book a free no obligation consultation.
Changes to Annual Investment Allowance from 6th April 2012 and Maximising tax relief for the cost of machinery
Changes to Annual Investment Allowance from 6th April 2012 and Maximising tax relief for the cost of machinery
What is Annual Investment Allowance (AIA)?
The AIA is a form of capital allowance which offers tax relief at 100% on all qualifying expenditure on plant and machinery in the year of purchase. Currently the maximum you can deduct is £100,000. However, from 6th April 2012 this amount is being reduced to just £25,000.
There are exceptions to the plant and machinery that qualifies for AIA such as cars and plant and machinery gifted to your business.
AIA is adjusted for short or long accounting periods, and also for accounting periods that span the rates and dates of differing AIA.
Self Assessment Deadline is 31st January
The deadline for filing your self assessment tax return for the year ending 05th April 2011 is the 31st January. If you do not file by this date you could face penalties.
