Recent content by ExpertAccountant

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    DLA on limited company tax return

    Yes, that's correct. Hence, OP needs to seek professional advice for his specific circumstance to see if there are any tax advantages of paying interest on DLA from the company.
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    Directors Loan to Shares

    To do this, wou will need: -a special resolution; and -file the SH01 form or do it online. Accounting treatment will be (as already mentioned by the poster above): Debit DLA and Credit Share Capital. From tax point of view, you will be lesser off however.
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    Accountant Pricing for Holding Co

    I can understand why you feel that is a lot of money for what appears to simply be a setting up of a holding company. But in reality it is not as simple as that. You will need to obtain HMRC clearance beforehand and then draw up the necessary legal paperwork to avoid future issues with HMRC...
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    Accountancy Fees

    Accountancy fees will depend on the type/size of business and requirements. However, £3k per annum plus montly charge for Xero is on the premium side. It will be worth getting a few competitive quotes and renegotiating price with your exisiting accountant.
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    Choosing an accountant

    You have some very sensible replies here. Being in the accountancy profession for over 10 years (from the largest accountancy firm to now running my own), I would start my search as follows: 1. Ask for recommendations from other successful business owners 2. Find at least 2/3 small to medium...
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    Freeagent Microentity accounts

    Hi SG11. You will need to submit the company tax return to ensure full compliance. Also, this will allow you to offset losses against future profits.
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    DLA on limited company tax return

    Hi SultanofLondon. No, the loan amount will not be deductible from the EBITDA. It is only the interest element that will be deductible, which in this case isn't any. There is no limit on how much/little the director can lend to the limited company. Also, there are no limits on when the limited...
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    Uk Subsidiary of overseas parent company

    Not if the parent company is required to do so under contracts (i.e. sales or purchase contracts) with third parties.
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    Budget - Grants for small businesses

    Hi Sarah. If your business receives Small Business Rates Relief then you should have received a letter from the local council informing you of your eligibility with the forms that you need fill to receive the grant. Please check with your local council.
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