SME Tax News

This is our rolling update. We will add points of interest as we note them throughout the month, and update our guides on these topics as we go.

The release of loan to a participator who was also a director was, in the absence of any evidence to dicate otherwise, treated as earnings for NICs purposes.

January may be over but wake up! There is never a dull minute in UK tax. These current consultations may have a major effect on SME owners and advisers.

A short update. I am gearing up for next week's Adviser update (it's a really interesting one as it goes).

The Public Accounts Committee (PAC) has severely criticised HM Revenue & Customs (HMRC) for a whole catalogue of extraordinary and costly failures which have befallen the department in the past year.

From 1 April 2011
New rules are expected to be introduced on how in the case of a close company you work out the number of its associates for tax purposes in calculating whether the small companies' rate of tax applies.

 

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