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
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
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
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
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
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
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
Minimising Family Tax
This is a good time to look forward to 2012/13 and assess who will be earning what in your family. The level of personal allowances (tax free income) have increased significantly over the last two years, and are increasing again … Continue reading
Buying a franchise – limited company or sole trader?
When starting a business one of the most important decisions to get right is whether to trade as a limited company or as an unincorporated body (sole-trader or partnership). There are many factors consider, including differences in taxation. When you … Continue reading
Will I pay less tax if I held my let properties through a company?
Not if you need the cash and your highest tax rate is 40%. If you hold the properties personally, and pay tax at 40%, for every £100 of rental profits you will receive £60 in your hands. If the properties … Continue reading
