It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. The deadline for filing the first set of accounts with Companies House…
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Child benefit for 16 to 19 year olds
The weekly child benefit rates for the only or eldest child in a family is currently £25.60 and the rate for all other children is £16.95. Taxpayers entitled to child benefit should be aware that HMRC usually stops paying child benefit on 31 August following a child’s 16th Birthday. Under qualifying circumstances, the child benefit…
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Thinking of selling your business?
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. When the relief is available, Capital Gains Tax (CGT) of 10% is payable in place of the standard rate. This can mean a substantial CGT saving for someone looking to…
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Are your bank keeping you informed?
According to the competition and Markets Authority, certain UK banks are not meeting their obligations to keep customers informed about their products and services. HSBC, Lloyds, TSB and AIB all failed to make available correct data on their products or services and have breached the Order in the following ways: HSBC failed to keep information…
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