About: Dev19

An announcement was made in the Budget in March relating to new rules for Directors' Loans, the legislation has now been published. This legislation will be finalised when the Finance Act becomes law (normally in July) but the new rules have effect for some transactions from 20 March 2013.   What is the position for loans made by a company before 20 Continue Reading

 We would guess, yes you are? But how?  The problem with stagnant markets (i.e. verging on recessionary) is the amount of ‘talking down’ that goes on: don’t know about you but sales have taken a hammering, don’t get the support we need from the bank, and so on…  We would like to offer you a different perspective. Profit is the Continue Reading

Imagine that for the next quarter your turnover doubled from £60,000 to £120,000. To achieve the extra turnover you had to purchase product that cost you £60,000.  On the face of it this is great news for your business. In three months you will have generated £60,000 (Sales of £120k less direct costs of £60k) of additional profit for your Continue Reading

You may have heard that the Government has been considering whether to allow some small businesses to compute taxable profits for the purposes of income tax on a cash basis rather than the usual accruals basis. The Government has recently issued draft legislation to allow this option.   The cash basis can first apply for the 2013/14 tax year which Continue Reading