by Oasis Accountants | Dec 29, 2023 | Newsletter
Being a separate legal entity, the money within a company’s bank account belongs to that company, not the owners or directors. Tempting though it is for a business owner to help themselves to the company’s profits, they cannot do so unless it is declared as a dividend...
by Oasis Accountants | Dec 22, 2023 | Newsletter
In the dynamic realm of cryptocurrency, staying informed about evolving tax regulations is paramount. Here’s a concise breakdown of key considerations and recent developments provided by HMRC: Crypto as Shares, Not Cash: HMRC views cryptocurrency as shares,...
by Oasis Accountants | Dec 15, 2023 | Newsletter
The tax legislation states that a deduction from rental profits is allowable for expenses incurred ‘wholly and exclusively’ for the purposes of the business. This short and general provision has resulted in uncertainty and case law disputes between taxpayers and HMRC...
by Oasis Accountants | Dec 8, 2023 | Newsletter
As the festive season approaches, it’s crucial to ensure that the joy of your staff Christmas party doesn’t lead to unexpected tax liabilities. Here’s a quick guide to potential tax pitfalls and how to navigate them: 1. Expenditure Limit per Head:...
by Oasis Accountants | Nov 22, 2023 | Newsletter
The Chancellor, Jeremy Hunt, made his 2023 Autumn Statement speech and the highlights are as follows Economic Growth Measures: No recession anticipated, with the implementation of 110 measures. The Office of Budget Responsibilities (OBR) projects increased business...
by Oasis Accountants | Nov 8, 2023 | Newsletter
It is a valuable inheritance tax (IHT) relief, allowing certain types of business assets to be passed on 100% IHT-free. There is also a 50% rate of relief for other eligible business assets that do not qualify for the 100% rate. However, as with all reliefs, its...
