TQOTW: LOANS TO EMPLOYEES

TQOTW: LOANS TO EMPLOYEES

Many of my small company clients often have overdrawn director loan accounts. When considering minimising the beneficial loan charge, what interest can be taken into account to reduce or cancel the benefit charge? The employment-related loan legislation is designed to...
TQOTW: TRAINING COSTS

TQOTW: TRAINING COSTS

My client is a surgeon who is currently employed by the NHS. During the year, he has attended various training courses to enable him to keep up to date with changes in the profession and gain new qualifications to further his career. Can he deduct the cost of...
TQOTW: DEFERRED STATE PENSION

TQOTW: DEFERRED STATE PENSION

Anne (aged 66) and Brian (aged 68) are a couple who could have started to draw their state pension a few years ago but they chose instead to keep on running their own trading company and defer taking it. From a look at their records for 2018/19, it’s clear that they...
TQOTW: RESIDENCE NIL RATE BAND

TQOTW: RESIDENCE NIL RATE BAND

My client has left their main residence to their children through a discretionary trust in their will. If a deed of variation is done within 2 years of the date of death would the residence nil rate band still be available? The residence nil rate band is available to...
TQOTW: ANNUAL INVESTMENT ALLOWANCE (AIA)

TQOTW: ANNUAL INVESTMENT ALLOWANCE (AIA)

My client company has a year-end of 31st May 2019 and throughout the year the company incurred capital expenditure that qualifies for the annual investment allowance (AIA). How do we determine the amount of AIA available and how do we allocate the AIA to the...

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