22nd January 2020

Relief for CGT losses

Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT if a gain had resulted when sold, then the loss should be an allowable deduction. The exact

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22nd January 2020

Don’t be taken in by this scam

The Insolvency Service has warned that fraudsters have been contacting investors in insolvent schemes claiming to be from the Official Receiver’s office or to have been appointed by the Official Receiver to help recover funds for a fee. These

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22nd January 2020

Disclosing VAT errors

Where an error on a past VAT return is uncovered, you have a duty to correct the error as soon as possible. As a general rule, you can use your current VAT return to make any necessary adjustment. However, there are three important conditions that

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15th January 2020

Tax allowances you can claim for business cars

Capital Allowances allow your business to secure tax relief for certain capital expenditure. Qualifying expenditure on cars must usually be allocated to one of two general pools of expenditure. Which pool is appropriate depends on the car’s CO2

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15th January 2020

Close down a company by striking it off the register

There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike-off can be requested by a dormant or non-trading company. A limited company can be

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