If you use your company credit card for personal purchases it counts as a benefit in kind on which you’ll be taxed and might have to pay NI. So how can using your company credit card for, say, a
holiday purchase, save you money?
Published 08.07.2014
Benefits in kind are usually more NI efficient than salary. However, the opposite can be true for director shareholders who receive a low salary, perhaps topped up with dividends. What savings are
possible and how can you take advantage?
Published 13.10.2017
You’re thinking of buying an apartment in the Alps for the skiing in winter and walking holidays in summer. In might also make a decent investment. You could buy personally, but might it be more tax
efficient for your company to?
Published 10.12.2014
In April 2016 a new method for taxing job-related perks through the payroll takes effect. The trouble, especially for directors, is that the value of perks can change over the course of a tax year.
How will the new system work in this situation?
Published 07.03.2016
The Taxman allows companies to pay for a director’s or employee’s mobile phone without it counting as a taxable perk. However, there are conditions which HMRC strictly enforces. How can you avoid
falling foul of these?
Published 30.04.2019
A friend has told you that he and his wife are taking a tax-free luxury weekend away on the company. Apparently, because the business has been running a long time HMRC allows this. Is this something
you can take advantage of?
Published 03.02.2020
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 provided perks to him and his spouse. The perks were declared on their respective tax returns, but HMRC argues that they are all taxable on him, which meant a bigger tax bill.
Is HMRC right?
Published 17.04.2018
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
If business is slow and your staff have time on their hands, you could use them to do personal work for you. But what steps should you take to ensure maximum tax efficiency for you and your company?
Published 25.05.2012