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
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
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
It’s a couple of weeks until the deadline for declaring benefits in kind to HMRC for 2018/19. How can you use a current year dividend to prevent the resulting tax charge and replace it with a lower
one payable at a later date?
Published 25.06.2019
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
Changes proposed to the benefits in kind rules might mean you can make personal use of your company’s credit card, tax free, for up to 18 months. How can you take advantage of this?
Published 12.06.2017
You have a large self-assessment tax bill to pay at the end of January. The trouble is that after the excesses of the festive season you’re a bit strapped for cash. What are the tax consequences of
using company funds to pay HMRC?
Published 09.01.2017
Your business needs extra cash. While you have the funds available, it might be more tax efficient if the money came from your spouse because they pay tax at a lower rate than you. How can you
arrange the transaction to take advantage?
Published 18.09.2017
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