Author Archives: Duncan Barr

62 ways to pay less tax – No. 6 Make the losses work

The value of shares quoted on the stock market has risen recently. This may encourage you to sell some investments before the end of this tax year (5 April 2013) in order to use your annual capital gains exemption and … Continue reading

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62 ways to pay less tax – No. 5 Alternative to the office party

You normally have a Christmas party for your employees which the Taxman accepts as a tax-free benefit for directors and employees alike, provided the cost is less than £150 per head (including VAT). But what if the format is getting … Continue reading

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62 ways to pay less tax – No. 4 Should I buy assets or shares?

When buying a business, the purchaser should always stop and ask “should I buy assets or shares”? The seller will typically be keen to sell shares – it can have significant tax and non-tax advantages for him. But it is … Continue reading

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62 ways to pay less tax – No. 3 Company share buy back

Sometimes two shareholder/directors differ on how a company should be managed and moved forward. This can lead to a stalemate where nothing is achieved and the business starts to suffer. The answer is often for one shareholder to buy out … Continue reading

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62 ways to pay less tax – No. 2 Tax breaks for green cars

Since 2009 the rate at which you can claim capital allowances (CAs), i.e. the Taxman’s version of depreciation, has been linked to CO­­­­­­­­­­­­­­­­­­­­­2 emissions. For cars with CO­­­2 emissions over 160g/km, you can claim CAs equal to just 8% of … Continue reading

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62 ways to pay less tax – No. 1 The classic car solution

At this time of year (P11D season) company car drivers get the bad news about the taxable benefit of having a company car – and employers have to face up to the additional (Class 1A) National Insurance charge of providing … Continue reading

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IR35 Tests

If you provide services through your own personal service company you should be aware of the tax law known as IR35. This tax rule imposes an extra charge on your company, if you would be treated as an employee of … Continue reading

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When a marriage ends….

Where a marriage ends, special tax rules come into play which can be particularly tricky if you own a business together. Timing the exchange of assets is vital. What steps can you take to avoid triggering a Capital Gains Tax … Continue reading

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Increased relief for R & D expenses

From 1 April 2012 the tax deduction for research and development (R & D) expenses available to SMEs was increased from 100% to 125%. So, for example, a company that spends £8,000 on R & D expenses will be entitled … Continue reading

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How much should I now pay myself?

As a director and shareholder of your own company you can decide how much salary to pay yourself each month, in order to use your personal allowance in the most tax efficient way. As a director of your personal company … Continue reading

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