Under existing regulations, OMB Ltd Cos will be able to delay CT payments and only pay interest and no penalties.
So it would be helpful if the interest rate was reduced to 0%.
This will help somewhat.
I was a bit surprised, when they were talking about raising Class 4 rate last year that they put the threshold up in line with the PT not the ST. They could have pocketed a few extra bob there.
My answers
Yes, "adversely affected", but what if a builder picks up a few odd jobs in the next few weeks, turn them down?
"true income is profits plus salary"
That's a very good point.
And what if first year of trading was 2018/19, with tax loss?
Under existing regulations, OMB Ltd Cos will be able to delay CT payments and only pay interest and no penalties.
So it would be helpful if the interest rate was reduced to 0%.
This will help somewhat.
"And not one political journalist seems to have grasped this basic point."
to be fair, Peston said it last night.
Ah yes there is that - I had deliberately forgotten.
Delaying IR35 has replenished our coffers for another year.
MTD is live - the soft landing year is nearly done - nothing to delay ??
I was a bit surprised, when they were talking about raising Class 4 rate last year that they put the threshold up in line with the PT not the ST. They could have pocketed a few extra bob there.
Als0 "Congratulations, your bank account is reconciled" takes no account of the several dozen unreconciled transactions going back to way back when.
Also the QBO app with a GPS tracker which posts mileage without the option to drill and review the journeys.