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October Key Tax Dates
In case you’re wondering, here are the key tax dates coming up for October: 1 – Due date for payment of Corporation Tax for the year ended 31 December 2017 5 – If a Tax Return has not been received, individuals and trustees must notify HMRC of new sources of income and chargeability in 2017/18 14 –…
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Can You Disincorporate Your Business Tax Free?
The new disincorporation tax relief removes the corporation tax problem when you transfer your business to a partnership or sole trader, but there are severe income tax implications. Making this change could trigger a corporation tax bill. The Office of Tax Simplification decided this was unfair to business owners and introduced the disincorporation tax relief…
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Are You A Tax Abuser?
The tax General Anti-Abuse Rule, known as GAAR, is now law. There are rumours that this may be used to stop income shifting between spouses despite HMRC losing a case between husband and wife owners of a company ten years ago. You could attract the attention of HMRC if you pay your spouse a salary,…