TAX TIP OF THE WEEK – Are you planning to buy out your business partner and co-director in the near future? Make sure you do so tax efficiently
TAX TIP OF THE WEEK – Are you planning to buy out your business partner and co-director in the near future? Make sure you do so tax efficiently Are you planning to eventually buy out your business partner and co-director? Make sure you do so tax efficiently.. So you have agreed a fair price, the […]
TAX TIP OF THE WEEK – Rather than considering a pay rise for your employees , consider a cheaper way for you to increase their pay via the use of tax-free travel expenses.
TAX TIP OF THE WEEK – Rather than considering a pay rise for your employees , consider a cheaper way for you to increase their pay via the use of tax-free travel expenses. In order to cut the red tape for employers , HMRC let you use benchmark rates to cover employee travel and subsistence […]
TAX TIP OF THE WEEK – Ever considered getting a classic set of wheels to take advantage of the tax breaks
TAX TIP OF THE WEEK – Ever considered getting a classic set of wheels to take advantage of the tax breaks It is generally not recommended to purchase a petrol/diesel car through the company due benefit in kind charges that apply. These are based on the original list price and CO2 emissions of the vehicle […]
TAX TIP OF THE WEEK – Are you losing out further on money lost on shares, investments or properties recently. If so not following the correct process could cost you £££ of tax in future years.
TAX TIP OF THE WEEK – Are you losing out further on money lost on shares, investments or properties recently. If so not following the correct process could cost you £££ of tax in future years. So that stock that you thought was going to be the next Amazon but turned out to be a […]
TAX TIP OF THE WEEK – Looking to pass wealth on to your kids?
TAX TIP OF THE WEEK – Looking to pass wealth on to your kids? There are 2 tax traps with just transferring money into their savings accounts:1. Interest earned from these accounts (if more than £100/annum) couldn’t as your income, so you could end up paying tax on it.2. Gifts of more than 3k per […]
TAX TIP OF THE WEEK – Does your spouse have any unused personal allowances for the 21/22 tax year?
TAX TIP OF THE WEEK – Does your spouse have any unused personal allowances for the 21/22 tax year? In situations where your husband/wife perhaps has a part-time job and didn’t earn more than £12500 marriage allowance may come in handy. Marriage allowance allows you to move up to £1250 of their allowance to you. […]
TAX TIP OF THE WEEK – Want to invest in a new business on the side but not sure how to fund it?
TAX TIP OF THE WEEK – Want to invest in a new business on the side but not sure how to fund it? Putting money into a new company is nearly always risky, but doing it tax-efficiently means at least you will benefit in some way even it goes wrong. Here are a few of […]
TAX TIP OF THE WEEK – Can i get tax relief on customer meals?
TAX TIP OF THE WEEK – Can i get tax relief on customer meals? Often, as business owners we will pay for meals or drinks on behalf of our customers to create new or cement existing customer relationships, so we see this as a necessary expense for the business. Unfortunately, HMRC class these costs as […]
TAX TIP OF THE WEEK – Are entertainment costs ever tax-deductible?
TAX TIP OF THE WEEK – Are entertainment costs ever tax-deductible? There is a fine line between promoting your business (tax deductable) to customers and providing entertainment to customers (not tax deductible). However you don’t have to completely rule out a tax deduction when trying to impress customers with food and wine, the […]
TAX TIP OF THE WEEK – Is it time small company directors re-think their company car strategy?
TAX TIP OF THE WEEK – Is it time small company directors re-think their company car strategy? For owners of small businesses, previously taking out a company car proved a false economy – often creating more personal tax liability than it saved on company tax. Therefore the general advice was keep the car privately owned, […]