The move to tax loans to participators at a higher rate was not announced by the Chancellor in his main speech to Parliament. However, further investigation of the Budget documents has revealed that from this month, the rate of tax payable by a company on any balances lent to an individual participator or related unincorporated… Read more…

In the last year the buy-to-let sector has been hit by a number of new government measures aimed at increasing the Treasury’s tax take from the sector. However, landlords may not be aware of the HM Revenue & Customs (HMRC) Let Property Campaign; a scheme that offers an amnesty to individuals who have failed to… Read more…

Directors have been told that they now have only four months to save their company from being struck-off from the Companies House Register if they do not reply to formal letters from registrars. In a warning to directors, Companies House has said that those who are late in filing their company accounts, and don’t reply… Read more…

A comprehensive survey conducted by the British Business Bank has revealed that lending to small and medium-sized businesses in the UK is growing for the first time since the financial crisis began. The Government-backed lender welcomed the renewed availability of bank debt in its Small Business Finance Markets Report, which increased for four consecutive quarters… Read more…

The creation of new business taxes risks undermining the economic recovery, the Confederation of British Industry (CBI) has warned. The CBI said the Apprenticeship Levy (AL), National Living Wage (NLW) and the growing burden of business rates amounted to a £29 billion raid on companies over the next five years. Speaking during their Budget submission,… Read more…

A study by Hitachi Capital Finance has revealed that the UK’s small businesses can expect three tough periods in 2016 when cashflow will be restricted. According to their report, which has been put together using data from its small business customers, April, July and October are likely to be lean months where cash reserves are… Read more…

Dividends have been a very tax-efficient way of making savings in National Insurance Contributions (NIC) and Income Tax contributions for a number of years, with many business owners and shareholders choosing a smaller salary, plus an additional remuneration package paid as dividends. However, this is all set to change from next month as the income… Read more…

Some of the UK’s biggest companies are said to be preparing to impose a £10,000 a year cap on workplace pension contributions; a sharp reduction from the current £40,000 annual allowance. Employers that hire tens of thousands of staff are apparently looking to apply a blanket £10,000 limit on what can be paid into a… Read more…