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Related UK Tax Questions
Would like to ask, if person sells his Sole Trading business
HelloWould like to ask, if person sells his Sole Trading business to LTD for example for £100 000, then does his LTD needs to pay any Corporation Tax , and does he needs to pay any dividends tax in fi… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,374 satisfied customers
I am a sole trader operating under a Limited Company and am
Hi, I am a sole trader operating under a Limited Company and am about to file my first set of accounts, using the micro-entity format, with HMRC. I don't have an accountant for this currently due to s… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,188 satisfied customers
I would like to ask. I have Ltd in which I have to pay 10%
HelloI would like to ask. I have Ltd in which I have to pay 10% management franchising fee on sales made. I have director loan account balance around £10K DR (meaning that my Ltd owes me this money, s… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,374 satisfied customers
Please, can you advise what is difference between Director
HelloPlease, can you advise what is difference between Director Loan account and Owners Drawings? If I paid by business bank account for something which was not part of business, how should I record t… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,188 satisfied customers
I am preparing our annual accounts for UK Corporation Tax
HiI am preparing our annual accounts for UK Corporation Tax and wondered how I would show a loan from our bank to our business?To provide you with an overview. We have done a lot of refurbishment work… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,188 satisfied customers
We've had an approach from a third party who wishes to acquire
We've had an approach from a third party who wishes to acquire our limited company shares (not an asset purchase). We have director loans and it has been suggested that we convert these to equity and … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,374 satisfied customers
Tony, I have a CIC client and the Director paid personally
Hi Tony, I have a CIC client and the Director paid personally for a lot of the initial expenses. Some four years on the Director has decided to ‘donate' the amount owed to her in her Director's Loan a… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am setting up a new business and have heard of the option
I am setting up a new business and have heard of the option of setting up an LLP and LTD to work in tandem to maximise tax efficiencies. Is this correct and how would it work with payroll etc? To clar… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,188 satisfied customers
I own a small design (web) and Publishing (digital) company
I own a small design (web) and Publishing (digital) company in the UK which I have directed for 9 years. I own 80% of the company having sold 20% for £40,000 7 years ago. This money was invested into … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
i am about to purchase a commercial catering business which
i am about to purchase a commercial catering business which currently trades via husband and wife but as 2 separate LTD companies. i was thinking of keeping it as a partnership which one would be most… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Dear Sir/Madam Im afraid my question is rather long and
Dear Sir/Madam I'm afraid my question is rather long and comprises a few elements. If the standard fee is not enough because it really counts as two questions let me know. My question relates to limit… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
I am a contractor running a limited company with myself as
I am a contractor running a limited company with myself as the director and employee. When my corporation tax was due, an extra £3500 of notional tax was added due to an overdrawn directors loan of £1… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
What are the legal & tax implications if a limited company
What are the legal & tax implications if a limited company lends money to another company?… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
Hi their, I run and own a small LTD Company in UK. A few
Hi their, I run and own a small LTD Company in UK. A few years ago i put a directors loan into the company. I have yet to take this back out as i had no need for it however business was going pretty w… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Small Ltd company just at the end of first year of trading.
Small Ltd company just at the end of first year of trading. Started with 3 director/shareholders, part way through the year two of the directors opted out and one of them elected to leave some money i… read more
CCTax
CCTax
Bachelor's Degree
324 satisfied customers
If a owner of a company loans the company money and repays
If a owner of a company loans the company money and repays himself later is it a drawing and therefore taxable or is it just a loan repaid, and where in the ledgers would you show these transactions… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Id like to reduce my tax bill. My idea was My existing
I'd like to reduce my tax bill. My idea was: My existing business, which I run as self-employed would be licensed to a limited company which I own (granting the right for the company to operate and co… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I have a directors loan account of - 250K the Ltd Company has
I have a directors loan account of -£250K the Ltd Company has not made any profit for 4 years and is running at a loss. (Im the main creditor, the loan owed is my initial investment and money I have i… read more
TEAP007
TEAP007
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Fully Trained Inspector of Taxes B1
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