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
The deadline for submitting your 2010/11 annual benefits and expenses return forms was July 6, which means the Taxman will soon be amending thousands of tax codes. Most of these will be wrong but
should you bother putting him right?
Published 25.07.2011
Many of our subscribers are currently receiving notices of amended tax coding for no obvious reason. Why is this, and what should you do if you receive an unexpected change in your code?
Published 16.09.2009
Salary sacrifice schemes can reduce your tax and save your company NI costs. But depending on the amount and type of income you receive the savings can vary widely. How can you get the best result?
Published 17.10.2012
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
In the next couple of months most directors will be receiving tax code notices for 2011/12. There’s a suggestion that these will incorporate adjustments that will result in you paying tax sooner. Is
the Taxman within his rights to do this?
Published 24.11.2010
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
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
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