Eloise Brown

Thank you So for an example where a overdrawn DLA is £20k, the company issue £20k in salary but £10k of the £20k is then withdrawn from the company by the director does the repayment show as £10k or £20k in this scenario? Can you please confirm yes or no for this situation? thank you

so to confirm we only report the allowable expenses as deductions? and ignore the disallowed expenses?

Thank you So for an example where a overdrawn DLA is £20k, the company issue £20k in salary but £10k is then withdrawn from the company by the director does the repayment show as £10k or £20k in this scenario? I believe from your comments it would be £10k - thanks

Thanks for your reply, RE 1. is this still shown as a repayment like dividends would be if the individual then takes the salary withdrawals?

Will HMRC want to see the disallowed expenses in the quarterly reporting? or only the allowable expenses?

I am looking to confirm 2 points relating to S455 repayments. 1. Can salary issued after the Year end with an OD DLA within 9 months and 1 day show partial repayment? Example: £20k DLA overdrawn, £10k salary issued after leaving £10k remaining as overdrawn. Would £20k be chargeable to S455 or £10k? 2. Can a cash deposit show partial repayment if deposited after a Year end with an OD DLA within 9 months and 1 day show partial repayment? Example: £20k DLA overdrawn, £10k cash deposit made after leaving £10k remaining as overdrawn. Would £20k be chargeable to S455 or £10k?

Is the First year allowance relief still available until 31 March 26 or is this not available from 1 April 25? Can you please confirm when this is expected to no longer be applicable and confirm it would instead be the 18% written down allowance?

If a limited company which traded since 2014 but has not had any sales since 2020 is looking to close. The director of the limited company who owns over 5% of the shares wants to claim Business asset disposal relief. If they look to close in the 24-25 tax year, can they still qualify for BADR if they were not recorded as dormant?

If a limited company enters into a PCP lease with no intention to make the final balloon payment, is this treated as an operating lease in the accounts? Receiving Corporation tax relief on the lease payments when made? Rather than capital allowances.

We have a client who exceeded the £230k threshold to switch to the Standard rate on May 24 however has not responded to any attempts to confirm they are happy for us to switch. Recently HMRC has got in touch notifying the client they should switch from 1 November 24. Should we still attempt to backdate this to an earlier date to meet when the company actually exceeded or are you happy for us to proceed with 1 November 24 as confirmed in the letter?