Owner-Managed Businesses Guidance

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Small companies

Brought to you from the tax exam market leaders, Tolley brings you the guidance you need on small companies tax in order that you can provide the latest thinking.
Latest Guidance
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28 Jun 2019

For owner-managers, most on-going remuneration requirements will usually be met in the form of a combination of regular salary, bonuses or dividends. Although tax will be...

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28 Jun 2019

Enquiries and compliance checksHMRC has the authority to investigate the tax affairs of all taxpayers. It can either open a formal enquiry into a specific tax return....

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28 Jun 2019

Where a share (or other qualifying asset) acquired by the employee is a readily convertible asset (RCA), both income tax and Class 1 National Insurance contributions...

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28 Jun 2019

Enhanced R&D deduction for SMEsA company incurring qualifying R&D expenditure from 1 April 2015 can claim a deduction equal to 230% of the relevant costs incurred...

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28 Jun 2019

SummaryThe EMI is an employee incentive scheme aimed at small entrepreneurial companies that meet certain conditions. It has been designed to assist such companies to...

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28 Jun 2019

The enterprise investment scheme (EIS) encourages individuals to invest money in shares issued by qualifying unquoted companies with a permanent establishment in the UK.A...

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28 Jun 2019

Extraction of companies’ profits will result in a tax charge and often National Insurance contributions (NIC) being levied. Careful planning is crucial. This is generally...

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28 Jun 2019

Personal service companies (PSCs)Many people supply their services via a ‘personal service company’. Working in this way can provide significant savings in tax and NICs ―...

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28 Jun 2019

Special rules apply to tax benefits provided by a close company to a participator. The general rule taxes certain benefits in kind and is discussed below. However, if the...

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28 Jun 2019

Overview of the carried forward loss restrictionAn important restriction in the use of losses carried forward was introduced by Finance (No 2) Act 2017. Subject to a de...

Latest Guidance
OMB_tax_img
Owner Managed Business

For owner-managers, most on-going remuneration requirements will usually be met in the form of a combination of regular salary, bonuses or dividends. Although tax will be...

OMB_tax_img3
Owner Managed Business

Enquiries and compliance checksHMRC has the authority to investigate the tax affairs of all taxpayers. It can either open a formal enquiry into a specific tax return....

OMB_tax_img9
Owner Managed Business

Where a share (or other qualifying asset) acquired by the employee is a readily convertible asset (RCA), both income tax and Class 1 National Insurance contributions...

OMB_tax_img8
Owner Managed Business

Enhanced R&D deduction for SMEsA company incurring qualifying R&D expenditure from 1 April 2015 can claim a deduction equal to 230% of the relevant costs incurred...

OMB_tax_img3
Owner Managed Business

SummaryThe EMI is an employee incentive scheme aimed at small entrepreneurial companies that meet certain conditions. It has been designed to assist such companies to...

OMB_tax_img2
Owner Managed Business

The enterprise investment scheme (EIS) encourages individuals to invest money in shares issued by qualifying unquoted companies with a permanent establishment in the UK.A...

OMB_tax_img6
Owner Managed Business

Extraction of companies’ profits will result in a tax charge and often National Insurance contributions (NIC) being levied. Careful planning is crucial. This is generally...

OMB_tax_img4
Owner Managed Business

Personal service companies (PSCs)Many people supply their services via a ‘personal service company’. Working in this way can provide significant savings in tax and NICs ―...

OMB_tax_img2
Owner Managed Business

Special rules apply to tax benefits provided by a close company to a participator. The general rule taxes certain benefits in kind and is discussed below. However, if the...

OMB_tax_img6
Owner Managed Business

Overview of the carried forward loss restrictionAn important restriction in the use of losses carried forward was introduced by Finance (No 2) Act 2017. Subject to a de...