Are professional fees tax deductible?
The answer to this question depends on what type of professional fees have been incurred. Professional fees are income and corporation tax deductible if incurred
Should you dispose of old documents?
Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have increased. HMRC generates substantial revenue
The company makes a loss – can a dividend be paid?
Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase
Be aware of VAT bad debt relief
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on
Making student loan repayments through Self Assessment
There are three ways in which former students with student or post-graduate loans can make loan repayments: • from deduction from their
Class 2 National Insurance refunds made in error – Action to take
Class 2 National Insurance contributions are flat-rate contributions which for 2023/24 and earlier tax years are payable by the self-employed where their profits exceed the