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This private residence relief means that you will not have to pay any Capital Gains Tax on the disposal of your main home as long as you are able to satisfy the main two conditions. These two conditions are based on the assumption that you...

To ensure that your company is governed correctly, it is essential to understand the types of shareholder meetings that should take place and when they should be held. The key meetings are:General MeetingA general meeting is held to consider...

Each of which will help reduce your overall capital gains tax liability. One of the reliefs that business owners can claim for is Entrepreneurs' Relief. This relief is given on the qualifying profits of a business disposal as long as you...

As such they usually constitute businesses that are considered to be social enterprises. CICs have an ‘asset lock’ whereby there is a limit on the amount of capital that can be transferred to other entities or to any members through...

Who is likely to need to submit a return? Most income that is earned in the UK is liable to income tax. However, if you are an employee without any other sources of income, the tax you owe will be collected by the PAYE system meaning that you...

The Flat Rate Scheme (FRS) for VAT is a much more simplified version of the normal VAT Scheme. The basic principles of the FRS are that you charge VAT on your sales as normal, but that when it comes to calculating your VAT payable to HMRC,...

To ensure that your company functions correctly and remains compliant with relevant legislation and in particular the Companies Act 2006 it is important that any decisions made by shareholders are done so properly, which includes using the...