You’ve decided to close one of your companies as it’s now making losses with little prospect of improvement. As a director shareholder what’s the tax advantage of paying yourself redundancy pay?
Published 16.11.2020
Recently, the Tax Tribunal considered whether you can claim more than one tax exemption for redundancy payments. The decision was unexpected, yet logical. But more importantly for directors it
highlighted a possible tax loophole.
Published 03.03.2010
The long awaited employee-shareholder contracts became a reality on 1 September. Larger companies are expected to be the main users, but can smaller and family-owned companies also make use of
the tax breaks?
Published 18.09.2013
We’ve taken a closer look at a few of the issues that might have the greatest effect on you and your company. It seems to be a mixture of bad and worse news.
Published 13.04.2010
Like most directors, you use your home phone to conduct business. The company meets all or part of the associated costs. What tax pitfalls need you be aware of in such a situation?
Published 19.12.2007
If you’re out on the road seeing customers, you might want to take one or two out to lunch as a goodwill gesture. But the Taxman sees this as an extravagance and won’t allow you to deduct the cost
for tax. What, if anything, can you do about it?
Published 16.09.2009
According to a certain major supermarket chain, “every little helps”. But if the little extra in question is credit card reward points or Air Miles collected on your business purchases, will the
Taxman expect you to cut him in?
Published 04.02.2010
One of our subscribers recently received a bill for tax and NI on travel expenses paid to himself and two fellow directors. These payments are normally tax and NI-free, so what was the Taxman’s
problem?
Published 18.01.2011
In order to make your home life run more smoothly, you’ve decided to get a cleaner in for a few hours each week. If you pay them “cash in hand”, will they be self-employed or your employee?
Published 25.04.2013