Your business has used the flat rate scheme since you registered for VAT three years ago. A colleague says that you should have reduced your relevant percentage by 1% in the first year. Is this correct and is it too late to claim the discount?
S R Lynn & Co·Blog
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A fellow director has asked whether his bonus payment can be delayed until after 5 April 2026 to reduce his personal tax bill. Does his plan work and, if so, how does it impact the company’s tax position?
The end of the tax year means one thing - finalising your profit extraction plan. Your director’s loan account is overdrawn but you know you have several months to pay it off. Can you save money by paying it now?
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