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
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
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
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
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
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
A subscriber’s company provides benefits-in-kind to his former spouse. While they were together he was taxed on these, but now they’re apart does he still have to pick up the tax bill?
Published 25.07.2011
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
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
Wouldn’t it be nice to have your own place in the sun and escape there every so often when the going gets tough. And wouldn’t it be even better if there were tax relief on the running costs; the idea
is not as far fetched as you might think.
Published 06.07.2010