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Howlader & Co Blog

Q & A

10th October 2012

In this week’s blog, we thought we would take a breather from the weighty topics that have been covered recently (such as foreign tax implications, and buying vs hire purchase) and answer some general questions that we’ve received over the past few months. Some of these, you may note, have been discussed in previous blog posts. Q: My company has received ...read more

Equipment – Buying vs Hire Purchase vs Leasing

28th September 2012

Should I buy or lease this? Which is better for tax purposes? Just some of the common questions we receive from our clients about equipment for their company. Hopefully this blog will help solve those questions that you have about this topic as well. Buying The simplest situation – in this case, you buy the asset outright for cash.

  1. Potentially high up-front cost
...read more

Foreign Aspects Of Tax: Residence/Ordinary Residence/Domicile

7th September 2012

UPDATE October 21, 2013: Following their overhaul of the way that statutory residence is determined (covered in our Budget 2013 blog here), HMRC has released updated guidance in booklets RDR1 and RDR3. These replace the previous guidance, HMRC6, and contain examples covering typical situations that may apply to you if you have foreign income ...read more

Using your home as an office for your business – what can be claimed?

8th August 2012

“Can I claim money back on council tax? What about rent? Home broadband? Electricity bills? etc.” These, and others like it, are some of the most frequently asked questions we receive, so in today’s blog we answer the question ‘If I work in an office at my house, what can I claim money on, and how much can I claim?’ The structure ...read more

Do you apply VAT on disbursements?

27th July 2012

Disbursements – simplified If you are providing services to your client you will, occasionally, need to pay for items on their behalf. So, do you charge any VAT on this (assuming you are VAT registered)? The answer depends on if you “use” the thing you paid for or benefit from it in any way. If the answer is no to both these questions ...read more

Claiming TAX and VAT on expenses made before your company is formed

20th July 2012

In the past two weeks we have been asked the same question three times. “I’m thinking of starting a company in a few months but will have costs now. Can I claim the VAT back? And the tax?” The answers is yes for corporation tax (so long as the costs are within seven years and wholly and exclusively for business purposes). The expenses ...read more