Sinclair Day

August 2, 2017

Let property disclosure campaign

HMRC’s Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to
August 2, 2017

Company purchase of own shares

As a general principle, when a company makes a purchase of its own shares, any payment in excess of the amount of capital originally subscribed for the shares is treated as a distribution (taxed as income not a capital gain). However, there are
August 2, 2017

Tax write downs for business cars

Capital allowances allow businesses to secure tax relief for certain capital expenditure. Qualifying expenditure on cars must usually be allocated to one of two general pools of expenditure. Which pool is appropriate depends on the car’s CO2
August 2, 2017

VAT – what you cannot reclaim

Most VAT registered businesses are entitled to reclaim the VAT they incur on goods and services used by the business. This is known as input VAT. Some of the common areas where VAT cannot be reclaimed include the following: Goods and services