Top tax tips: Claiming a pension from the company

One of the biggest tax breaks available to a limited company is the ability to make pension contributions. To qualify for tax relief, company pension contributions must be made for genuine employees of the business. Directors are classed as employees … Continue reading

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Claim £100′s of tax relief if you wear a uniform!

Do you have to wear a uniform to work? Did you have to purchase it and wash it? This can apply to a worker if they simply wear a shirt with a logo or full head to toe attire, such … Continue reading

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Class 2 National Insurance contributions

From April 2014, the HMRC can collect outstanding class 2 national insurance contributions by adjusting a taxpayers tax code or by passing the debt onto a specialist private debt collection company. Class 2 National insurance contributions (NICs) are paid by … Continue reading

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Special Budget blog 2014: Seed Enterprise Investment Scheme

The Seed Enterprise Investment Scheme (SEIS) is designed to increase the level of investing in the early development of high growth potential businesses. The scheme is similar to the EIS but focuses on smaller, early stage companies carrying on a … Continue reading

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Special Budget blog 2014: Increase in the Annual Investment Allowance

The chancellor pleased many businesses in April with his announcement that the temporary increase in the annual investment allowance (AIA) is to be extended for a further year to 31 December 2015. From the 1st April 2014 the maximum amount … Continue reading

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Special Budget blog 2014: Options at retirement

One of the most significant changes in the 2014 Budget were the changes to pensions held in defined contribution schemes. The proposed changes, which are expected to come into effect from April 2015, will give savers the choice of whether … 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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2012 Budget Summary

The Chancellor promised a Budget which “unashamedly backs business”. We summarise the main tax changes below: 1. The main rate of corporation tax will be cut from 26% to 24% from April 2012 and will be reduced to 22% by … Continue reading

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Capital allowances for holiday lets

Do you own a property that qualifies as a furnished holiday let (FHL)? To qualify the property has to be commercially let for short periods for at least 70 days per year, although this minimum will increase to 105 days … Continue reading

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Tax efficient cars

There are quite a few types of car which have CO2 emissions of no more than 110g/km; including certain models of the Mini Cooper, Toyota Prius, Smart, and Fiat 500. If your company buys one of these low emissions cars … Continue reading

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