The Taxman won’t let businesses deduct excessive wages paid to the proprietor’s spouse. So how should you calculate the correct wage to keep on the best side of both your spouse and the Taxman?
Published 24.02.2005
From April 6 2008 the new income shifting law threatens to increase tax bills for all business owners who share out their business profits. Is there anything you can do now to protect yourself and
your business from this new law?
Published 28.02.2008
A correct code should mean that you pay the right amount of tax on your salary. But the Taxman likes to use it as a way to get his hands on your money earlier than he’s entitled to. Can you stop him?
Published 26.03.2009
Paying your other half a wage from your company is a well established tax-saving arrangement. However, sometimes it’s not possible or desirable to do this. Is there an alternative way to put them on
the payroll and still cut your tax bill?
Published 02.09.2010
If, during an enquiry into your business accounts, the Taxman queries your tax deduction for “spouse’s wages”, how should you respond? Or what can you do now to improve your case should he ask
sometime in the future?
Published 10.04.2008
From April 6 2008, a new law will make it difficult to save tax by paying dividends to your spouse. What should you be doing now to get around this?
Published 31.01.2008
You would love to get a nanny to provide expert childcare in your own home, but you just can’t afford one. However, a friend says she’s going to use a new tax break to pay for her nanny from April.
How is that possible?
Published 10.03.2005
The current economic downturn has resulted in falling income for your family and now your partner has been made redundant. Could you transfer some of your income to them and save some tax in the
process?
Published 29.01.2009
It’s the season of goodwill for 2006 so why not extend this to yourself, by taking an extra bonus or dividend? But which is best - is it always the case that one method is more tax-effective than the
other?
Published 07.12.2006
You’ve been told that you can reduce your higher rate tax bill by transferring some of the shares in your company to your partner. The transaction can be a simple gift, but is there a more tax
efficient alternative?
Published 09.07.2015