Sinclair Day

March 6, 2019

Post cessation receipts and expenses

According to HMRC’s published guidance there are special rules for the taxation of post-cessation receipts and expenses. These provisions apply to professions, vocations and trades. Tax relief may be available for post-cessation expenses of a trade,
March 6, 2019

Incentive award schemes and tax

Companies can use incentive award schemes to encourage their employees in various ways, for example, to sell more of their own goods and services. The award can take various forms including cash, vouchers or other gifts. Where an employer meets the
March 6, 2019

Utilising unused losses for CGT

Sometimes tax-payers may sell an asset at a loss. If acceptable as capital losses, they can be deducted from Capital Gains made in the same or future years. As a general rule, if the asset would have been liable to CGT had a gain taken place then
March 6, 2019

Companies House – Late Filing Penalties

There are Late Filing Penalties which are designed to encourage companies to file their accounts and reports on time. The penalties were first introduced in 1992 and were significantly increased from February 2009. All companies, private and public,