craigwilliams

Landlords running an unincorporated property business can claim a tax reduction for interest and finance costs incurred in relation to residential lets (including holiday lets).  The tax reduction is 20% of the lower of: The deduction cannot create a tax refund. If the interest and finance costs are higher than the business profits and/or the […]

Where a business is run through a personal or family company, the directors/shareholders will need to extract profits if they are to be used personally. There are various ways to do this, and popular options include paying a small salary and extracting additional profits as dividends.  However, where the business is run from home or

I know that goes against what a lot of freelancers have been told for years, especially when work starts picking up, and someone says, “Go limited, take dividends, save tax.” Here’s the part that often gets missed. A limited company is not just a tax choice. It is a compliance choice. It comes with rules,

When an employee works from home, they may incur additional costs, such as higher gas and electricity bills. The tax system offers some help where the employer meets some or all of these additional costs. However, the relief previously available to employees who met these costs themselves will be withdrawn from 6 April 2026. Expenses

Not because it is wrong, but because it can create extra admin. Here is why 31 March is often worth considering for media production companies. First, it matches the tax year. That keeps planning simpler. One set of dates, fewer moving parts. It also makes life easier for directors and shareholders’ personal tax. Your company

For unincorporated trading businesses, the cash basis is the default basis for preparing accounts for landlords running an unincorporated property business. However, unlike traders, landlords can only use the cash basis if their rental receipts calculated under the cash basis are £150,000 or less for the tax year. Landlords who are not eligible for the

The cash basis is the default basis for preparing accounts for landlords with annual rental income of £150,000 or less who run unincorporated property businesses. Under the cash basis, income is recognised only when received, and expenses are recognised only when paid; there is no need to account for debtors and creditors or for prepayments

In November 2025, the government announced a joint strategy involving HMRC, the Insolvency Service and Companies House to crack down on what is termed ‘contrived insolvencies’, i.e. company closures engineered to avoid paying tax using so-called ‘phoenix companies’. The measures signal a tougher approach to directors who repeatedly abandon companies with unpaid tax liabilities before

Getting around a city by bus, car or taxi can be frustrating, with traffic congestion often making journeys slow and unpredictable. Travelling by bicycle can be quicker, cheaper and better for the environment. If you run your own limited company, buying a bicycle through the company can also be a tax-efficient way of providing transport