Connected persons

If you are a connected person for tax purposes you will be required to substitute the market value of any asset you transfer or acquire when working out the gain or loss on disposal – not the amount you have actually agreed, unless of course this is the same as market value. The most likely…

Filing VAT online

You might have received a letter from the VATman that officially notifies your company or business to file its VAT return online, or face penalties. If your business had a turnover of £100,000 or more in the year ending 31 December 2009 you are legally required to file your VAT returns online, rather than as a…

Bonus, dividend or higher salary?

 If you run your own company and are considering an increase in your salary 2010-11 you might like to consider the following points: From 6 April 2010 if your income is in excess of £100,000 you will start to lose your tax personal allowance, initially this can create a marginal tax rate up to…