After lots of Tricks, it's time for some Treats!

Here are some tax free treats you could take from your company, with the maximum tax free amounts for a two person shareholder-director company shown in brackets. 

  • Salary (£25k pa)
  • Trivial Benefits (£600 pa)
  • Annual Parties (£600 pa)
  • Cycle To Work Scheme (Credit License Limit: £2k)
  • Private Health Checks (Annual - £No Limit)
  • Eye Tests (Annual - £No Limit)
  • Tax Free Dividends (£2k)
  • Pensions (£120k pa – With IFA Advice)
  • Relevant Life Policies (£Not Excessive)
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Dear HMRC...Why We Need To Talk

HMRC-Phone-Contact

Dear HMRC

Why we need to talk to you…..

As an unrepresented taxpayer with apparently very simple tax affairs, I find myself needing to call you. I really don’t want to. I have better things to do, but I like to know I’m not going to upset you.

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Higher Interest Rates - How Might You Respond?

 

With increasing interest rates, we need to get used to a new environment where debt has a more noticeable cost and cash has a meaningful value. It's likely to be worth paying attention to this area more than you have done for many years. Here are eight main things you might want to take a look at:

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Coronavirus - Limited Companies - What Are Your Choices?


Now we've probably heard all the major Coronavirus announcements from the Chancellor, what choices do Director-Shareholder Limited Companies have to help them through this crisis? We provide a checklist below with signposting to the relevant part of gov.uk.

Time To Pay

Applicable to all companies and all taxes, you can call HMRC and agree a scheduled delay to paying your taxes. Have a realistic proposal that you can stick to. Signpost: https://www.gov.uk/government/news/tax-helpline-to-support-businesses-affected-by-coronavirus-covid-19

Time To File

Companies house will allow you to send in your accounts 3 months later than normal, a increase from the usual 9 months to 12 months, as long as you ask before the 9 month deadline.

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Registered

On The Spot Tax Limited

Trading as On The Spot
Registered in England & Wales under company number 06566196
VAT number 937 5293 90