The business of a professional photographer is to be incorporated to avoid a VAT liability on holiday lettings as a result of the combined business income
An accountant prepares the accounts of professional partnerships and prepares the tax returns of the partnership and their partners. Some partners have objected to a proportion of the total fees relating to personal returns being added back
Our client’s wife died and left him 40% of the shares in a small limited company that operates a consultancy business. The other 60% were divided equally between their three adult daughters. Their father is a director of the company and works for it