To understand overdrawn director loan accounts, we first need to cover why they exist. The situation arises most regularly in owner managed businesses where the business owner has been advised that the best way to minimise the tax burden is ....
Categories: General, Bookkeeping, Tax, Small Business
October 26, 2011 |
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If you are the owner of a small business and you trade through a limited company, it is likely that you are set up with a salary for 2011/12 of around £7,020 per annum (2010/11: £5,700). The remainder of your drawings from the company will then be by...
Categories: General, Bookkeeping, Tax, Small Business
September 23, 2011 |
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1. Lower corporate tax rates are staying; and the 20% corporation tax rate is an attractive alternative to being taxed as a sole trader. 2. From 5 April 2011, private car business usage claims are now at the rate of 45 pence per business mile. I...
Categories: General, Tax, Small Business
September 9, 2011 |
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Welcome to the Haggards Crowther newsletter. We very much hope that our newsletters will be of interest to you. In this quarter's newsletter: Technical Update: If you own a limited company and use commercial child care Haggards Crowthe...
Categories: General, Tax, Small Business
August 17, 2011 |
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