Most Recent Issue

ENTREPRENEURS’ RELIEF

Hidden threat to entrepreneurs’ relief

The latest Finance Bill appears to block entrepreneurs’ relief (ER) for director shareholders who own different classes of share in their company. What’s the full story?
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CAPITAL GAINS TAX

Selling your home for more (tax) than you bargained for

Usually when you sell your home there’s nothing to declare to HMRC, but as one taxpayer recently discovered there’s a lot more to private residence relief than meets the eye. Might you be in line for an unexpected tax bill?
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LOANS

Borrowing from your company - keep the tax cost down

Directors can indefinitely borrow up to £10,000 interest free from their companies at no tax cost to themselves. The trouble is the company will have to pay tax and tough anti-avoidance rules apply. Is there a way to legitimately avoid them?
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CORPORATION TAX - EXPENSES

How soon can you claim a tax deduction?

HMRC is disputing the tax deduction claimed by your company for costs it incurred on training employees for a new business venture. Your accountant is adamant they are tax deductible. Who’s right?
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PROPERTY

Property damage - is tax payable on compensation?

A large delivery vehicle hit your building causing significant damage. The vehicle’s owner is willing to pay you £5,000 compensation rather than deal with it through insurance claims. Will you have to pay tax on it?
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HMRC ENQUIRIES

Are fees resulting from an investigation tax deductible?

Following a long investigation our subscriber agreed to adjustments to his tax return. His accountancy and legal fees far outweighed the extra tax he had to pay. But will HMRC accept a tax deduction for these?
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REMUNERATION PLANNING

Income tax planning for older directors

You’re about to reach state pension age but have no intention of giving up running your company. As you’ll no longer have to pay NI contributions on salary should you start taking more of it and less in dividends?
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Last updated: 18.01.2019

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