Where you borrow money interest-free from your company, you can land yourself with a tax bill. But a friend, who’s also a director, tells you that he avoids this by paying interest to his company.
Will this also work for you?
Published 31.10.2011
If you use your company’s money to pay for personal items or just to top up your cash, it can result in tax charges. When will these apply and how can you legitimately avoid them?
Published 02.05.2017
Dividends might be the most tax-efficient way to take income from your company but they can only be paid out of profits. This means for a recently started business they probably aren’t an option.
What’s the next best thing?
Published 01.05.2012
There’s no escaping tax on the benefits-in-kind (BiK) you receive from your company, but a loophole in the rules means that you can delay payment for a long time. How can you take advantage of this?
Published 28.04.2011
Several years ago you pumped some personal cash into your company, but now you could do with a chunk of it back. Your accountant has warned that this could lead to a tax charge. Why, and how can you
avoid it?
Published 25.11.2011
One of your part-time staff has asked for a salary advance to help pay for dental work. You’re happy to oblige, but can you help further by using a loophole in the tax system? And might the same
trick work for you?
Published 03.02.2014
The Budget included positive news for directors on the Seed Enterprise Investment Scheme (SEIS) and company loans. But there are also moves to close a popular tax planning loophole. What’s the
low-down on these changes?
Published 16.04.2013
If you personally own your company’s business premises and it makes some improvements to the building, this will land you with a hefty income tax bill. Why, and what steps can you take to reduce and
defer this amount?
Published 25.04.2013
There are two different ways to calculate the taxable benefit-in-kind (BiK) on your director’s loan account. One of them is more tax efficient, but the Taxman has the right to override this; is he
likely to do so?
Published 08.06.2010
The signs are that last year was a good one and a bonus seems an appropriate reward. The trouble is there’s not much in the company’s bank account. If there’s an alternative to cash what might the
tax advantages be?
Published 03.02.2014