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BENEFITS

Reducing your tax bill on perks

In anticipation of another scorching summer you’ve used company cash to buy three mobile air conditioning units for your home. You realise that there will be tax and NI to pay on this perk, but how can you minimise it? More...

PROFIT EXTRACTION

Dividends v benefits in kind

Your company is doing well and so you plan to increase what you take from it. The question is, what’s the most tax-efficient way to do it? Usually dividends are the best option, but might there be a more tax-efficient alternative? More...

REMUNERATION PLANNING

Choosing the right salary sacrifice

Taking benefits in kind instead of salary can save you tax and your company NI. To get the best outcome you need to tailor the arrangement to fit your financial circumstances. But is this type of scheme always tax efficient? More...

REDUNDANCY

Paying off employees with assets; is it tax efficient?

If a job becomes redundant it might be more than the worker you no longer need. The tools they used for their job may also be surplus. If you give these to the employee as part of their redundancy package what will the Taxman say? More...

BENEFITS

Can watching the Olympics at work benefit you?

Whether you’re interested in sport or not, the world will have its eyes focused on the UK this summer. This will no doubt include a good many of your employees. How can you turn this potential distraction into a tax-free benefit? More...

COMPANY CARS

Which should you take - cash or a car?

The tax and NI you pay on your luxury company car has gone through the roof over the last few years. You’ve decided to transfer the car into your personal name to avoid this. What’s the most tax-efficient way to do this? More...

PROFIT EXTRACTION

Personal use of your company’s buying power

Where your company buys or makes something and later gives it to you, this can trigger stiff tax charges. But is there a way you can use your company’s buying power to save money on purchases and dodge the tax charges altogether? More...

PROFIT EXTRACTION

Tax-efficient house purchase

If your business is relocating to a more expensive area, or you’ve got your eye on a property that’s just out of your price range, is there any way in which your company can help with the finances without triggering a huge tax bill? More...

BENEFITS

No cost, no taxable benefit?

A colleague has told you that instead of discounts from his suppliers he’s asking them for extra items, free of charge. He reckons that as these have no cost he can take them out of his company tax-free. Is this something you could do? More...

PROFIT EXTRACTION

A fair exchange is no robbery

A potential customer says they’d like to do business but can’t afford your prices. They suggest an exchange of services. Is this something you should consider, and if so, could there be a tax advantage? More...
Last updated: 12.08.2020

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