In the current tax year you’ve used your company’s bank account to pay some personal bills. If you take no action this will result in tax and NI liabilities. How can you prevent or delay these?
Published 24.03.2021
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
Our subscriber’s company lent him a large sum shortly before the end of the last tax year. His bookkeeper says that the timing of the loan means he and the company face a large tax and NI bill. Why
and is there a way to dodge it?
Published 30.04.2018
A hike in tax rates will affect dividends you receive on or after 6 April 2016. Working out how much the extra tax will be is tricky enough, but when and how will you be expected to pay it?
Published 08.02.2016
You buy season tickets and discount cards for your staff to lower the cost of business travel. They’re also used by staff for private journeys, which saves them hundreds of pounds a year. Should you
report this as a taxable benefit?
Published 19.02.2019
In recent months you’ve taken a number of products and materials from your business. You know there will be a tax bill for this but might HMRC ask for more than you bargained for?
Published 07.07.2020
Generally, gifts you make to your employees are taxable as benefits in kind unless they are covered by a specific exemption. However, are they taxable if the gift is being made for private reasons?
Published 18.02.2022
On advice from your accountant your businesses are owned by separate companies within a group. As a director of each company what’s the most tax and NI-efficient way to be paid earnings from them?
Published 02.01.2024
This year’s accounts show a healthy profit and you want your share of it now, but one of your fellow directors insists he wants to defer indefinitely to keep his tax bill down. Is there something you
can do to keep you both happy?
Published 02.04.2013
As the end of the tax year is just weeks away, now is the time to consider tax planning, especially around the income you take from your company. What steps will improve your tax efficiency?
Published 09.02.2021