Recent content by TaxesClear Ltd

  1. TaxesClear Ltd

    Is this a usual request for an Accountant?

    yes, very common . Interim Accounts could be produced on a quarterly basis , half -year or upon a request. the cost will depend, you need to discuss this with your accountant. Anna
  2. TaxesClear Ltd

    CT41G Form

    Elaine Just out of curiosity – what proof of postage do you use? Do you post each form by recorded mail? Thanks, Anna
  3. TaxesClear Ltd

    Advice on VAT Registration for Insurance Broker

    Hi, If you are providing quotes and filling in forms for clients then your services will be exempt from VAT. There was a case recently where introductory commission were chargeable for VAT, see here: http://www.hmrc.gov.uk/briefs/vat/brief6907.htm If you can fall into its definition...
  4. TaxesClear Ltd

    Filing Accounts

    with your fine fees (if you are interested of course)
  5. TaxesClear Ltd

    Filing Accounts

    Hi Steve, Drop me your contact number, I can help you with that Dennis
  6. TaxesClear Ltd

    Who to contact about R&D Tax Relief?

    It is difficult to give an opinion without specific details of your expenditure. You can contact special tax department and consult with them Re; your R&D for help: http://www.hmrc.gov.uk/randd/special-units.htm Dennis
  7. TaxesClear Ltd

    R&D Tax credits

    You can claim an R&D tax deduction = 150% of costs To get a cash credit you need to have a PAYE liability otherwise if you are making losses these are increased and avaialable against future profits A cash claim will almost inevitably raise an enquiry by HMRC so you freind will shortly...
  8. TaxesClear Ltd

    Transferring a Partnership to Limited company

    Are you VAT registered for both enitites, if so you have to transfer the buiness as a going concern to avoid having to charge VAT on stock What have you done about the shares in the company have they been issued yet and fully paid If the share have low capital you may have a share premium...
  9. TaxesClear Ltd

    VAT on accommodation

    Hi Polly It is not possible to set up more than 1 company to avoid VAT registration. Compulsory registration is required within 30 days of exceeding threshold which presently is £64K pa. Failure to register in time incurs a penalty. There are schemes available for small businesses to...
  10. TaxesClear Ltd

    Investing with Ltd's money

    Toby, It will totally depend on the level of trading of CFDs/spreadbets Spreadbets are treated differently to CFDs.The companies that promote spreadbets pay betting duty direct to the HMRC, accordingly the spreads are high to cover the tax. As such the taxman will treat profits as tax-free...
  11. TaxesClear Ltd

    Husband and wife company structure (tax purpose)

    There is no problem in having one company and doing both businesses; although there could be an argument with your existing company transferring goodwill to the new company. Providing you both contribute and work for the company I do not think the Artic position should affect you as the...
  12. TaxesClear Ltd

    Inheritance Tax

    100% could apply if the owner will pass it on during his lifetime.
  13. TaxesClear Ltd

    Inheritance Tax

    Hi there You really need to sit down and work out what your estate consists of and where you think be potential exposure to IHT will materialise. Presumably your existent accountant is not much help but have you approached him as he could be armed with sufficient information to lead you...
  14. TaxesClear Ltd

    Help working just to pay the VAT!!!!!

    put an offer for the competitor, buy it and control the price!
  15. TaxesClear Ltd

    Loaning money to my company question

    The amount you can get back tax free , however the interest be taxable at 20-40%, but its good way to avoid NI on drawing profits from company.
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