Company Director Loan Accounts: What Your Bookkeeping Records Should Capture starts with one practical rule: every movement of money between a company and a company director should be recorded clearly enough to show who owes whom, why the transaction occurred and what evidence supports it. When business spending and a director’s own personal interests become…
Tag: Business Tips
Capital Gains Tax on Shares: How to Organise Buy and Sell Records for Your Accountant
Capital Gains Tax on Shares is easier to manage when your buy, sell and supporting records are complete. Clear records help your accountant calculate a capital gain or capital loss, identify the financial year and prepare your tax return. For share investors, Capital Gains Tax (CGT) is part of income tax, and net capital gain…
How Corporate Tax Rates Can Affect Your Bookkeeping Forecasts and Budgets
How Corporate Tax Rates Can Affect Your Bookkeeping Forecasts and Budgets shows how the corporate tax rate you expect changes how much cash your business needs to set aside. If your budget uses the wrong company tax rate or ignores income tax, it may overstate available cash. Company tax is not only a year-end issue.…
Company vs Sole Trader: How Tax Losses are Tracked and Carried Forward
Company vs Sole Trader: How Tax Losses Are Tracked and Carried Forward is about who owns a tax loss and how that loss can be used in future tax returns. A sole trader reports business income through a personal tax return, while a company is a separate legal entity that lodges its own tax return…
