A husband and wife owned Limited Company trading out of a property that they own personally

Why they approached us

The Limited Company approached us as they had a large overdrawn directors current account in their company and had tax arrears with HMRC which they could not currently afford to pay

How we helped

After discussing how the company was run with the directors, we established that the company would be entitled to make a Research and Development claim to offset against the last two years corporation tax liabilities. We also advised the directors to charge the company rent on their premises and completed a capital allowance claim on these premises.

The results

The reduction in profit resulting from the Research and Development claims wiped out the outstanding corporation tax liabilities due for the company and with careful planning we calculated a bonus to reduce the overdrawn loan account.
We also provided the client with a salary, dividend rental package that significantly reduced their personal tax liabilities.  The capital allowances that we had claimed increased the amount of income which could be withdrawn from the company at the basic rate of tax.

Contact Us
If you have any queries or need any advice please get in touch either by calling 01925 222 003 or fill in an online enquiry form to request a call back at your convenience.

If you’d like to learn more about our expert advisers, visit our team page.

Back to Case Studies

Contact Us

Speak to one of our experienced team

To speak to a member of our team, please call us on 01925 222 003 or enter your details below and a member of the team will call you back.

Required
Required
Required