Peer to Peer lending

I have to confess, when I first heard about peer to peer lending, I thought it was a bit of a gimmick, not a real world solution which could be useful for our clients. What changed my mind was listening to the BBC money box programme on ‘Broken Banking’ It...

Equitable Life compensation

If you are due, or have already received, compensation in respect of the Government’s maladministration of Equitable Life pensions and policies you may be interested in the tax position of these payments. There is no need to declare receipts to HMRC as they are not...

Furnished Holiday Lettings

Does your holiday home qualify as a Furnished Holiday Let (FHL) property? And if it does, what are the tax advantages? Does your property qualify? From April 2012 the following conditions apply: The property must be situated in the UK or EEA. The property must be...

VAT flat rate scheme

The VAT Flat Rate scheme provides smaller businesses with a number of options that can often create real cash savings. Benefits include: Simplified administration, quicker to produce returns. Depending on the market sector your business operates within, you may be...

Taking too much out of the company

Any payment made to a director as part of their remuneration package is generally subject to tax that is usually collected via the PAYE system. The payments made by the employer are allowable expenditure and reduce the employer’s taxable profits. However, many smaller...