Article Database - Tips & Advice Tax: Year 20, issue 16

Income tax planning during lockdown Publication date: 13.05.2020
Article database » Profit extraction » Dividends
While there’s a hint of light at the end of the lockdown tunnel, business will take a while to recover. In the meantime you’re taking minimal income from your company, but should you consider increasing this to maximise tax efficiency?
Directors’ loans - the trouble with joint accounts Publication date: 13.05.2020
Article database » Loans » Directors
You have been in business for several years without any trouble from HMRC. However, your accountant says that the way your director’s loan account is managed might increase your tax bill. Why, and can it be avoided?
Tax relief for property rental losses Publication date: 13.05.2020
Article database » Property » Rental income
The financial side effects of coronavirus on your tenants may result in the costs of your rental business outweighing the rents you receive. What are your options for claiming tax relief for the losses?
Partial exemption - improving your VAT recovery Publication date: 13.05.2020
Article database » VAT » Input tax
As a partially exempt business the amount of VAT you can recover on purchases is restricted unless overridden by the de minimis rules. These can be applied in different ways, but which produces the best outcome?
Electronic publications - zero-rating fast tracked Publication date: 13.05.2020
Article database » VAT » Output tax
Electronic publications - zero-rating fast tracked.. In response to the coronavirus pandemic the government has accelerated extension of VAT zero-rating for printed matter, e.g. books, magazines etc., to their electronic equivalents. However, some types of electronic publication and audio book are excluded (see The next step ). The new zero-rating rule...
Temporary zero-rating for PPE Publication date: 13.05.2020
Article database » VAT » Output tax
Temporary zero-rating for PPE..Qualifying PPE. Sales of personal protective equipment between 1 May and 31 July 2020 will be zero-rated for VAT if it has been recommended for use in the Public Health England guidance issued on 24 April 2020 (see The next step ).The temporary zero rate applies to products, including those sold...
More news on grants for self-employed Publication date: 13.05.2020
Article database » News » Coronavirus
There’s new guidance and other help for self-employed traders who want to claim the Self-employed Income Support Scheme (SEISS) grant. What’s the latest?
Selling your EIS investment too soon Publication date: 13.05.2020
Article database » Capital gains tax » Enterprise investment scheme
Three years ago you bought shares in an enterprise investment scheme (EIS) company. You’ve received an offer for them which you’re thinking of accepting. You’ve been told it could be costly in terms of tax. What could you expect to pay?
Loss relief when a company’s business ends Publication date: 13.05.2020
Article database » Companies » Corporation tax
You were winding down your business with a view to closing the company in the next year or so but the lockdown has brought your plans forward. If your company makes a loss in its final period of trade how can it obtain tax relief for it?

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Last updated: 22.05.2020

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