Accounting Web
Corporation tax - which rate ?
A small family owned client company has ceased trading and is now left with rental income only arising from commercial properties acquired over the years.
Can the management of the companies and collection of rents be classed as a trading operation or should the company now be reclassified as a close investment holding company and thus pay corporation tax at the main rate?
Which tax offce?
I submit SA returns online. In updating software for 2010 returns, the software company say that I must show on each return the relevant service office of HMRC who deals with that client.
P11d BIK re wife's car
I am in the process of preparing P11ds for an owner managed IT consultancy Ltd company. This is a one man band operation and as is typical, the owner generates the income and the wife does a small amount of secretarial admin work. In 2008/9, he paid her a small salary as remuneration but in 2009/10 decided to provide her with a company car with fuel instead of salary. The BIK value of this is circa is £6,800. Does he/she have a P11d BIK issue here, I can't help thinking that there must be one.
Thanks for any help and direction provided.
