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Dividend Tax Traps

Dividend Tax Traps

Paying dividends to close family members: Tax traps In a family company scenario, it can be tax-efficient to make salary and dividend payments to family members to utilise their unused allowances and lower-rate tax bands. However, when it comes to paying dividends,...
Annual Tax on Enveloped Dwellings

Annual Tax on Enveloped Dwellings

Concept Of ATED  Annual Tax on Enveloped Dwellings (ATED) is payable by companies owning residential properties valued at more than £500,000. ATED return needs to be filed if your property: Is a dwelling. Is in the UK. Valued more than £500,000. Is owned completely or...
Tax Considerations for Online Influencers

Tax Considerations for Online Influencers

Navigating Tax Pitfalls: HMRC Targets Online Influencers Promoting Products on Social Media The rise of social media and digital platforms has opened up new opportunities for online influencers. However, it has also brought about tax implications that influencers need...
VAT Investigation process by HMRC

VAT Investigation process by HMRC

VAT: An inspector calls! A business will have a visit from a VAT inspector for one of two reasons; a routine visit after selection by the HMRC computer based on the type of business and the level of turnover, or if the business has an unexpectedly large VAT repayment....
Company Closure

Company Closure

The closure of a company can be costly, and there will be various practical financial matters to attend to: for example, if there are staff they may be entitled to redundancy pay; there will possibly be VAT deregistration; the submission of final accounts and tax...