TAX TIP OF THE WEEK – You may know that petrol/diesel company cars tend to work out quite expensive from a tax point of view. But what’s the position for Motorbikes/Scooters?
TAX TIP OF THE WEEK – You may know that petrol/diesel company cars tend to work out quite expensive from a tax point of view. But what’s the position for Motorbikes/Scooters? Motorbikes are classed as plant and machinery, not cars, which means:Benefit in Kind taxes are based on a lower rate than of a car […]
TAX TIP OF THE WEEK – Thinking of investing In a new bike, could you get the company to pay?
TAX TIP OF THE WEEK – Thinking of investing In a new bike, could you get the company to pay? The cost of a new bike these days can be quite a cost, especially if you are thinking of an e-bike which can run into £1000’s The good news is using the government’s cycle-to-work scheme you […]
TAX TIP OF THE WEEK -If you and your spouse sell a property that is jointly owned, how can you ensure you ensure you do so tax efficiently..
TAX TIP OF THE WEEK -If you and your spouse sell a property that is jointly owned, how can you ensure you ensure you do so tax efficiently.. By default the ownership share is split equally between you and your spouse. As you are both taxed independently, this can mean an inefficient use of allowances […]
TAX TIP OF THE WEEK – Are you planning a new business but are unsure of its viability. What’s the most tax-efficient way to proceed?
TAX TIP OF THE WEEK – Are you planning a new business but are unsure of its viability. What’s the most tax-efficient way to proceed? New ventures can often be risky a business and result in losses. The good news is that there are some fall-back tax positions that can help you claw back some […]
TAX TIP OF THE WEEK – Thinking of selling your business, but worried about finding a buyer and the capital gains tax? An EOT may be your answer.
TAX TIP OF THE WEEK – Thinking of selling your business, but worried about finding a buyer and the capital gains tax? An EOT may be your answer. There are a few problems that owners face when trying to sell their business:There may not be a ready market to sell toBuyers will most likely want […]
TAX TIP OF THE WEEK – Thinking of building a garden office, how could you benefit by getting your company to pay.
TAX TIP OF THE WEEK – Thinking of building a garden office, how could you benefit by getting your company to pay. Since 2020 many business owners have realised that they can still operate effectively even from home. Meaning garden offices have become more popular. As a company director then there can be some benefits […]
TAX TIP OF THE WEEK – Are you looking to close or sell your company soon, then perhaps you could benefit from a redundancy package.
TAX TIP OF THE WEEK – Are you looking to close or sell your company soon, then perhaps you could benefit from a redundancy package. Employees (including directors) laid off due to a business being sold or closed down, can be entitled to statutory redundancy payments that are TAX FREE up to £30,000. The redundancy […]
TAX TIP OF THE WEEK – How to save stamp duty on a house purchase,
TAX TIP OF THE WEEK – How to save stamp duty on a house purchase, Given the average price of housing at the moment one of the biggest costs to moving or acquiring a buy-to-let investment is the stamp duty payable. If you are acquiring a 2nd property for say £500k the stamp duty alone […]
TAX TIP OF THE WEEK – Does owning a buy to let property through a company always save tax?
TAX TIP OF THE WEEK – Does owning a buy to let property through a company always save tax? With the introduction of the S.24 mortgage interest relief restriction coming in a few years ago, the standard practice seems to be purchase any new buy-to-let via a Ltd co structure. However this isn’t always the […]