Solid Business Blog

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...

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...

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...

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...

My Client owns 100% of an investment property and wishes to transfer a beneficial interest in the property to his wife. I have just read an article on the internet that states he can do this by passing on a 99% entitlement to the income from the property but only a 1%...

My husband and I jointly own a rental property, the income of which we declare 50:50 on our Tax Returns. I have been promoted and will be a higher rate taxpayer going forward. Is it possible for my husband to be taxed on a greater proportion of the rental income as he...

Client is adamant that their car dealer has advised them that VAT incurred on the purchase of an electric car is recoverable in full. ❌ Myth! An electric car is no different to a car which runs on any other fuel; input tax is blocked from recovery unless...

Over the last few years, my client has been granted a number Enterprise Management Incentive scheme (EMI) options. He has exercised these over the last few years at different times. In this tax year he disposed of all of his shares in the company, will he qualify for...

How will the Employment Allowance reform coming into play from April 2020 affect my business? What are the new changes coming into play? With effect from 6 April 2020, employers with a National Insurance contributions (NICs) liability of £100,000 or more, or employers...