by Oasis Accountants | Jul 7, 2023 | Newsletter
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...
by Oasis Accountants | Jun 30, 2023 | Newsletter
If you’re an employer and provide expenses or benefits to employees or directors, you must usually: Report them to HM Revenue and Customs (HMRC) Pay tax and National Insurance on them Examples of expenses and benefits include: Company cars Health insurance Travel and...
by Oasis Accountants | Jun 23, 2023 | Newsletter
It is common for family members to be employed within owner-managed businesses. When employing family members, taxpayers need to be aware that where remuneration is set at an uncommercial rate, HMRC may seek to disallow a portion of the expense when computing their...
by Oasis Accountants | Jun 16, 2023 | Newsletter
Published On June 16, 2023The section 455 tax charge is a specific tax charge levied on a close company where a loan to a ‘participator’ (normally a shareholder) is not cleared by the corporation tax due date falling nine months and one day after the end of the...
by Oasis Accountants | Jun 9, 2023 | Newsletter
Incorporating A Company When starting a business, it is usually as self-employed or as a partnership. As the business grows, working through a company may be considered for several reasons (limited liability being one of the more important). Tax is no longer a...
by Oasis Accountants | Jun 2, 2023 | Newsletter
Owner-managers can extract funds from the company in various ways. Typically, the working shareholders may well, in addition to drawing a normal salary, decide whether to extract surplus profits by means of a bonus or dividend. Hitherto, the high levels of National...
