Comparison of the different options for extracting surplus money from a small limited company which is becoming dormant, and the tax implications.
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Archive for the ‘Capital gains tax’ Category
As Portugal and the UK are fellow states of the EC, there are complicated VAT rules affecting business carried out between the 2 countries. This post outlines the main issues as they apply to a small UK business.
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As the UK and the Republic of Ireland each impose VAT under the same name, it is tempting to assume that there is one single VAT regime that cover both countries. This is not the case, as the 2 systems are entirely separate. This post outlines the main issues as they apply to a small UK business.
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“I own a house, which I lived in until I got married 2 years ago. Since then the house has been let out, and I now want to sell it. It has gone up in value. Will I have to pay any capital gains tax?”
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The background to closing down a limited company, and an outline of the steps needed in a straightforward case where the company is able to pay all of its debts.
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As investing in buy-to-let rental properties has become more popular, we are often asked whether it is better to own such properties personally or through a limited company.
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This month sees self assessment tax returns arriving through letterboxes across the country, and this year there are some changes to the return. Here are the main things to watch out for.
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In his Pre-Budget Report yesterday, the Chancellor announced a reform of Capital Gains Tax that is expected to take effect from 6 April 2008. Although the detail has not yet been published, it is expected that this will involve replacing the current range of tax rates (from 0% to 40%) with a single 18% rate.
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