by Neil Da Costa | Jun 4, 2021 | Uncategorized
It is not easy dealing with constant criticism especially when you are preparing for professional tax exams. What makes it even worse is when the criticism comes from ourselves. Most of us are much kinder and compassionate with other people compared to ourselves and...
by Neil Da Costa | Jun 3, 2021 | Uncategorized
The heatwave is finally here. Hope all of you are doing some tax revision while firing up the barbeque!When a client sets up a business, the two simple choices available are either set up a limited company or a sole trader’s unincorporated business.Let us assume...
by Neil Da Costa | Jun 2, 2021 | Uncategorized
Capital allowances come up in every exam, yet many students lose these easy marks. Capital allowances are simply tax depreciation and there are 3 types of allowances -writing down allowance (WDA), annual investment allowance (AIA) and the first-year allowance (FYA) on...
by Neil Da Costa | Jun 1, 2021 | Uncategorized
One of the fundamental areas in corporation tax is 75% groups. Companies in a 75% loss group can give each other trading losses while companies in a 75% gains group can transfer capital gains or capital losses. Group 1 is a simple 75% group -all 3 companies can give...
by Neil Da Costa | May 31, 2021 | Uncategorized
A popular topic in the Advanced Tax and BPT exams is offering advice on the difference between setting up a sole trader and a company making profits of £50,000. A sole trader business is part of the same individual’s income. If you are a higher rate taxpayer, then the...
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