When Companies Pay Interest on a Loan from Individuals in the UK, Withholding Tax Deduction and CT61: An Overview for UK resident taxpayer

As a business owner or investor in the UK, it is important to understand the rules and processes involved in receiving interest from companies. In this article, we cover withholding tax, the CT61 form, and how to claim a tax credit for withheld tax. Get the information you need to comply with UK tax laws and ensure that you are accurately reporting your income.

Barrister Incorporation

Update on Barrister Incorporation Back in 2015, the Bar Standards Board began accepting applications from Barristers who wish to practice through a separate legal entity, thus paving the way for barristers to operate through a limited company. Since then some 75 entities are now BSB Authorised Bodies meaning that they are fully owned and managed[…]

Companies House obligations for newly formed companies

If you have just formed a new company and been appointed as the director there are a number of obligations you should be aware of, two of these being the filing of company documents with Companies House. The documents which Companies House required include: Annual accounts for the company The annual return for the company (Corporation[…]

Minimising corporation tax

A guide to the allowances and reliefs available to help minimise your corporation tax Limited companies and most unincorporated associations such as sports clubs and cooperatives have to pay corporation tax. This is a tax levied against the profits a company makes. It includes profits from: trading investments income from renting out buildings or land[…]