When dividends cannot be paid
Under the Companies Act 2006, dividends can only be paid from realised profits, never from capital, no matter what a company’s Articles of Association say.
Dividends can only be
What is the pension’s Money Purchase Annual Allowance?
The Money Purchase Annual Allowance (MPAA) is a pension rule designed to prevent individuals from gaining double tax relief on pension contributions. It targets situations where
What happens if you cannot pay your tax bill?
If you cannot pay your tax bill, it’s crucial to contact HMRC as soon as possible. They may offer support through a Time to Pay arrangement, allowing you to repay your debt in
Company director disqualification
Company directors have a legal duty to act responsibly and in the best interests of their business. If a director fails to meet these responsibilities, they can face
Tripartite arrangements don’t necessarily enable an agency to escape accountability
The question was raised as to whether, in a tripartite agency relationship, an employment relationship exists between an employee and their intermediary agency. For instance,
Management buyouts: benefits for owners and teams
A management buyout keeps the business in familiar hands. The team that already understands customers, systems, and culture steps into ownership, which reduces disruption and
Improve cash flow with smarter invoicing habits
Why cash flow matters
Profit is important, but cash pays wages, suppliers and loan repayments. Even strong businesses can struggle if money arrives late. A few disciplined habits
Definition of a building sub-contractor
Know the rules for contractors & subs under CIS to avoid issues with HMRC.
Under the Construction Industry Scheme (CIS), HMRC applies specific tax rules to contractors and
VAT – digital record keeping
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and
Trusts and Income Tax
Trustees must manage assets, follow tax rules, and register with HMRC where required.
A trust is a legal arrangement in which a trustee, either an individual or a company, is
Rules to protect effects of debanking
Banks must now give 90 days’ notice before closing accounts, giving customers more time to respond.
Since April 2026, new government rules strengthen protections for individuals
What is Support for Mortgage Interest?
SMI loans can help pay mortgage interest for those on benefits, but repayment is due when the home is sold.
Support for Mortgage Interest (SMI) is a government-backed loan