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
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
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
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
From March 24 the Chancellor has changed the rules on company loans to shareholders. In future, loans that a company writes off won’t get a Corporation Tax deduction. Are there ways to avoid this new
tax cost?
Published 13.04.2010
You’ve used your company credit card to buy some Christmas gifts and stock up on booze for the festive season. There will be tax and NI to pay if you don’t pay your company back. But how long can you
put off doing this?
Published 27.11.2012
You want to pay yourself in the most tax-efficient way and this usually involves taking dividends, but these can only be paid if your company makes a profit. So what’s the position if you get your
sums wrong and you take too much?
Published 15.07.2013
We recently heard from a subscriber who has been doing battle with the Taxman over use of company resources. He reckons that the directors should pay tax for using the company’s software at home.
Does he have a point?
Published 05.01.2010