Sinclair Day

February 27, 2018

New protection for company directors

The government has announced the introduction of new laws to help tackle the problem of identity fraud and personal harm for company directors. The new laws which were introduced into parliament on 22 February 2018, will allow company directors to
February 21, 2018

Dormant company obligations

If a company has stopped trading and has no other income then HMRC should be informed for corporation tax purposes. HMRC can also send a notification if they think a company is dormant. This notice will state that a company or association is dormant
February 21, 2018

Beware capital allowance claw-back when you sell an asset

Capital allowances is the term used to describe the tax relief businesses can claim on certain capital expenditure and thereby reduce the amount of taxable profits. Most ‘capital’ items, such as equipment, vehicles, machinery etc last for a
February 21, 2018

What is reasonable care?

HMRC expects that taxpayers take ‘reasonable care’ over their tax affairs and do everything reasonably within their power to ensure that tax returns and other relevant documents are accurate. There is no legal definition of reasonable care from a