In a private limited company, it is usual for a director to also be a shareholder. Payments made to shareholders are deemed to be income distributions and taxed accordingly. However, payments made to shareholders where the company is being liquidated can be taxed as capital distributions under the Capital Gains Tax (CGT) rules being a disposal of an interest in shares.
Read More
When letting property, the aim is to make a profit. However, as recent years have shown, life is unpredictable, and things do not always work out as planned. Where property losses are made, it may be possible to obtain tax relief for those losses.
Read More
The property income allowance allows you to earn a small amount of rental income tax-free each year. It is useful where the rent-a-room scheme does not apply (which is limited to the letting of furnished accommodation in your own home), and removes the need to report small amounts of rental income to HMRC.
Read More
