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TAX

Sidestep a salary-dividend trap

You must be very careful not to draw more dividends than is permitted by company law - not least because it will land you with a hefty tax and NI bill. So what precautions should you take and what might these save you? More...

TAX

Tax saving from property ownership

If you personally own the property your company occupies for its business there are several tax planning angles worth considering. What are they and which is the most efficient? More...

TAX

How to spread your tax bill

At the end of January, you might receive a very unwelcome personal tax bill. The timing isn’t great, coming just after Christmas, so is there anything you can do about it? More...

TAX

How to save with income splitting

Husband and wife companies still have access to a tax-saving arrangement whereby they can split or share income. How does it work and what will the benefits amount to? More...

PROFIT EXTRACTION

Tax-efficient perks of the job

The directors are considering taking more income from the business, but what is the most tax-efficient way to do so, via the normal salary/dividend route or by paying for certain perks? More...

INCOME TAX

Maximising tax-free allowances

If you’re one of the 1.5 million taxpayers who completes their self-assessment tax return in January, it’s not too late to make use of a tax-saving opportunity. What’s to know and how much are we talking about? More...

TAX - BENEFITS IN KIND

Get personal with the company credit card

Changes proposed to the benefits in kind rules might mean you can make personal use of your company’s credit card, tax free, for up to 18 months. How can you take advantage and what will you save? More...

TAX

Save with nepotism?

In the past we’ve shown how a family member lending a hand can cut your tax bill. But how about giving them a salaried job when they’re out of work? What are the rules and what can you save? More...

TAX

Family helps cut tax bill

The cost of employing staff is a legitimate business expense and therefore tax deductible from profits. But if your spouse or partner lends a hand could you cut your tax bill by paying them a salary? More...

TAX

Time to benefit from some savings in kind?

The economy is definitely in better health and so is your business, meaning you can take more out. If you are careful could there be some tax savings available? More...
Last updated: 04.06.2020

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