TAX TIP OF THE WEEK – Offered shares in friends company?
TAX TIP OF THE WEEK – Offered shares in friends company? So you been offered shares in your friend’s company? Is it more tax-efficient to buy them personally or through your ltd company? There are generally 2 ways to get a return when investing in a company:1️⃣ Return in the form of dividends, or2️⃣ Increases […]
TAX TIP OF THE WEEK – Looking to retire?
TAX TIP OF THE WEEK – Looking to retire? Looking to wind down your business with a view to retirement? What’s the most tax-efficient way to do this? The general advice would be to liquidate the company so you can take advantage of extracting the profits as capital instead of income. This means if you […]
TAX TIP OF THE WEEK – Are you operating as a sole trader?
TAX TIP OF THE WEEK – Are you operating as a sole trader? Are you operating as a sole trader? Find out how you could get extra tax savings when incorporating your business. Most likely your sole trader business will have some value in the way of goodwill. This value can in effect be sold […]
TAX TIP OF THE WEEK – Investors Relief
TAX TIP OF THE WEEK – Investors Relief Want to invest some spare cash without taking huge risks and avoiding being hit with a big tax bill on the returns. Perhaps ‘Investors Relief’ could be the the answer. There are various government-approved relief schemes which encourage investment, including BADR and EIS/SEIS. However, these tend to […]
TAX TIP OF THE WEEK – Your company has accumulated significant profits and you looking for a tax-efficient way to use them.
TAX TIP OF THE WEEK – Your company has accumulated significant profits and you looking for a tax-efficient way to use them. One possible way would be to consider purchasing a share of the freehold in the trading property. This would be a more tax-efficient method to acquire a property as opposed to extracting a […]
TAX TIP OF THE WEEK – Your daughter wants you to pay for her driving lessons. Would getting your company to pay the £1000 cost be more tax efficient than paying for it personally?
TAX TIP OF THE WEEK – Your daughter wants you to pay for her driving lessons. Would getting your company to pay the £1000 cost be more tax efficient than paying for it personally? As a director of your own company you are free to put any personal expenses through the company, however, it will […]
TAX TIP OF THE WEEK – With the cost of living going up your employees may soon be hankering for a pay rise even if you think their performance doesn’t deserve one. A ‘Staff Suggestion Scheme’ could be the answer.
TAX TIP OF THE WEEK – With the cost of living going up your employees may soon be hankering for a pay rise even if you think their performance doesn’t deserve one. A ‘Staff Suggestion Scheme’ could be the answer.
TAX TIP OF THE WEEK – With the cost of living going up your employees may soon be hankering for a pay rise even if you think their performance doesn’t deserve one. A ‘Staff Suggestion Scheme’ could be the answer. Once this is implemented, it will incentivise your team to develop ideas to improve your […]
TAX TIP OF THE WEEK – If you own a buy-to-let commercial property which has gone up in value meaning you will be facing a high CGT bill. Then you could take advantage of a loophole that may allow you to cut this drastically
TAX TIP OF THE WEEK – If you own a buy-to-let commercial property which has gone up in value meaning you will be facing a high CGT bill. Then you could take advantage of a loophole that may allow you to cut this drastically Ordinarily, any gains made on the sale of the property would […]
TAX TIP OF THE WEEK – Are you making the most of tax-free mileage allowances?
TAX TIP OF THE WEEK – Are you making the most of tax-free mileage allowances? As you may be aware rates for using your own car for business purposes are 45p a mile for up to 10,000 miles & 25p thereafter. With fuel pricing going up daily the 25p rate is even unlikely to cover […]