Tax legislation is complex in many areas, so it is not surprising that people sometimes make errors due to either a lack of understanding of the law or by not having taken sufficient care in preparing their tax returns. Unfortunately, as well as having to pay any extra tax that should have been due, the...

You and your fellow directors own your company’s trading premises. Currently it occupies the property rent free. If this is the case, you should probably think about charging rent to your company as a tax-efficient source of income. But what is the income tax efficiency versus entrepreneurs’ relief? Tax expert Helen Johnstone takes a closer...