Hutchinson and Bloodgood LLP’s Post

Today, Manager Karen Litherland considers whether tax relief might be available where loans made to a business become irrecoverable. Find out more – https://lnkd.in/ejkefxVS #taxplanning #tax #loans #Claritas #negligiblevalue #negvalue #business

Are Loans Taxable? Understanding the Tax Implications of Borrowing and Repayment

Tax season is a stressful time for individuals and businesses alike, especially when faced with unexpected tax debt. Tax debt loans, also known as tax relief loans or tax settlement loans, are specialized financing opportunities designed to help businesses resolve tax debt issues. Benefits of a tax debt loan: ⭐️ Immediate relief: Avoid further penalties or legal actions. ⭐️ Simplified process: Compared to traditional business loans, tax loans have a streamlined application process and quick approval times. ⭐️ Flexibility: Tax debt loans offer flexible repayment options to avoid further cash flow issues Learn more about tax debt loans here:

Maximizing Tax Benefits on Loan Against Property: A Complete Guide When facing a financial crisis or in urgent need of funds, a Loan Against Property (LAP) can be an advantageous choice. LAP is a secured loan and generally offers low-interest rates and a streamlined disbursement process. It is an excellent financing solution for big-ticket expenses and is often favoured by borrowers over personal loans due to its attractive interest rates and reduced borrowing costs. Mortgaging property to acquire this loan allows you to secure funds without losing ownership of your property. Apart from these features, one more striking feature is the tax benefits on loan against property that the borrowers can avail on. However, the benefits depend on how the borrower utilises the loan amount. #tax #loanagainstproperty #taxbenefits #lap #finance #loans OneNDF#letsconnect https://lnkd.in/dE3EzEJ7

Loans. We may not give them too much thought but when our Taxation team think about them – it’s all about the tax! So, what are the tax implications of a loan and how can you structure loan agreements in a way that is most beneficial for you and your business? John Ioannou and his team lend their expertise (see what we did there) to ‘tipping in’ or pulling out’ funds from a private business and the importance of obtaining the right advice.   #lenders #loans #tax #commercial #business

Do you have, or are you considering, a director’s loan account? They are more complex than they seem initially. Read the facts about setting up and repaying a director's loan account . . . #tax #accounts #taxexpert #stevenage

🏡🔨 Financing Home Improvements: Tax Deductibility Insights Planning to finance your home improvements? Here are three crucial points to ensure the interest on your loans is tax-deductible: 1️⃣ Improvements must be substantial and add value or adapt the home to new uses. 2️⃣ There's a 24-month look-back period for reimbursement of improvements. 3️⃣ Act within 90 days post-completion for the tax deduction. Understand these guidelines to make the most of your home improvement financing. For more detailed guidelines: https://lnkd.in/g_mgnW79 #HomeImprovementLoans #TaxDeductions #FinanceTips #HomeRenovation

:: Tax returns and Tax debts :: 
Today we’re chatting about tax returns and tax debts.   If you have a job and receive pay slips (rather than being self-employed) it’s not a requirement to have done your tax return to get a home loan.   If you’re self-employed, we have lots of different options for you. The lowest interest rates will need completed tax returns for you and your business. If you don’t have your tax return available, there are options for low doc loans or alt doc loans where we can look at your BAS statements or a letter from your Accountant to support your home loan.   Need to consolidate your tax debt? We can help. #happyclients #blackfishfinance #leahbusby #financebroker #homeloans #experts #blackfishgroup #financialplanning #lifestyle #confidence #finance #property #insurance #newhome #firsthome #Investmentproperty #mortgage #refinance #glenelgbroker #mortgagebroker #brokeryourfriendstrust #taxreturns #taxdebt #selfemployedhomeloan #smallbusiness #smallbusinesstax

Consider borrowing from your corporation but structure the deal carefully Closely held corporation owners: If you need money for personal expenses like a new car or home improvements, consider borrowing from the business. But follow these tips to avoid adverse tax consequences. https://lnkd.in/gHi-7nnG

Do you have, or are you considering, a director’s loan account? They are more complex than they seem initially. Read the facts about setting up and repaying a director's loan account . . . #tax #accounts #taxexpert #stevenage