If your director’s loan account is in the red by the end of your company’s financial year, do you know the most tax-efficient option to manage it? Should you write it off to avoid a charge on the company? Can a director’s loan be written off? If you’re unsure of the...
What is a Furnished Holiday Let? A Furnished Holiday Let is also known as an FHL. It is a certain type of rental property classification in the UK and Ireland (and some European countries). As a holiday let owner under this classification you are entitled to certain...
A creditors’ voluntary liquidation (CVL) is a voluntary process initially instigated by a company’s directors. It is an alternative to the company being wound up by the court on a winding-up petition presented by a creditor of the company. How do I enter into a...
By Tim Corfield “My company has just received a £50,000 Bounce Back Loan. My 5 staff are furloughed. There aren’t any assets or liabilities (other than £25,000 due as directors dividend/directors’ loan account). I’m not sure when or whether I’m going to start trading...
Here, we offer a profit taking strategy to enable you to withdraw accumulated capital from your company, tax efficiently. Corporate capital repayment If you’re an unincorporated business such as a sole trader or partnership you are able to withdraw equity very...
We come across this time and time and time again. Directors or business people not seeking adequate guidance when they are making a major decision with their business, or seeking business debt solutions in Hereford. Take selling your company. I met Billy a few weeks...
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