P11D Reporting Dispensations 2011/12 Tax Year
The reimbursement of business expenses to your employees should be reported on forms P11D unless covered by a P11D reporting dispensation. The final date that HMRC will accept applications for a 2011/12 P11D reporting dispensation is 5 April 2012. No … Continue reading
2012 Budget Summary
The Chancellor promised a Budget which “unashamedly backs business”. We summarise the main tax changes below: 1. The main rate of corporation tax will be cut from 26% to 24% from April 2012 and will be reduced to 22% by … Continue reading
Looking ahead – Capital Allowances
From April 2012 there will be a reduction in the amount of expenditure on plant and machinery which qualifies for 100% year one write-off (via AIA), from £100,000 to just £25,000. If you are about to invest in new capital … Continue reading
Buying a franchise – limited company or sole trader?
When starting a business one of the most important decisions to get right is whether to trade as a limited company or as an unincorporated body (sole-trader or partnership). There are many factors consider, including differences in taxation. When you … Continue reading
Closing down your Company – Important deadline 1 March 2012
If you are in the process of closing down your company, or are thinking of doing so, you need to know about the change in the tax law from 1 March 2012. If your company has more than £25,000 in cash … Continue reading
