Best Tax Preparation Services in Kingswood

If you are a director of a ltd company and you are using the company bank account for ad hoc expenses you could end up with a huge tax bill. All expenditure in your accounts must be “wholly and exclusively for the business” and if it’s not it will be disallowed and coded to your director’s loan account. This will essentially mean that you will need to declare a higher dividend than you expected to and potentially move you into a higher tax band landing you a massive personal tax bill. The lesson here is to be sure that your expenses are allowable and can be claimed through the business. #SmallBusinessSupport #Accountant #Bookkeeping #Tax...