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  • 1,500+ Business Documents - Director's loan account record
    Director's loan account recordA taxable benefit in kind may arise where a director is provided with a loan, either interest free or at a rate of interest below HMRC's official rate. Use this document to calculate what, if anything, you need to declare to HMRC.Make a noteWhere a cheap rate or interest-free loan is no more than £10,000 at any time during a tax year, there is no taxable benefit. But where it exceeds this the whole loan is subject to the benefits tax rules. It's therefore important to monitor loans...
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  • 1,500+ Business Documents - Licence agreement
    Licence agreementWhere your company makes a payment to you in return for being allowed to use your home or other property for its business, you should draw up an agreement to formalise the arrangement. A licence agreement, rather than a lease, provides your business with non-exclusive rights over the chosen part of your home.Use an agreementIf your company uses part of your home, e.g. for you to work from or to store stock, you can charge it rent. As long as the property is used by the company for its business,...
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  • 1,500+ Business Documents - Licence agreement (garage)
    Licence agreement (garage)Where you use your garage for storage on behalf of your company, it can pay you rent. The arrangement should be formalised by a licence agreement which gives the company non-exclusive rights over the property.Company storageYou will need to record any payment made to you by your company for use of your garage, both in your company's books (as an expense) and on your own tax return (as income). On your personal tax return you now get to claim for any additional costs of meeting your...
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  • 1,500+ Business Documents - Distributable profits board minute
    Distributable profits board minuteA company can only pay dividends where it has "distributable profits". Broadly this means post-tax profit for the current or previous years which has not been paid to the shareholders. The directors must keep records to show they have considered this.A legal dividendCompany law says that once you've established the availability of distributable profits you can pay a dividend. These come in two types, interim and final. The directors have the power to pay an interim dividend...
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