One of the Taxman’s golden rules is that the person entitled to income is the one liable to pay tax on it. But like so many rules there’s an exception, and in this case it’s one that you can take
advantage of. How’s it done?
Published 17.02.2010
HMRC allows married couples to elect how they share their joint income for tax purposes. It’s a useful tax planning tool, but the drawback is that once made the election can’t be withdrawn. Is there
a way around this?
Published 08.07.2014
More and more couples are buying property together before marriage. But the introduction of the pre-owned asset tax means they could now face an annual tax charge. What’s the problem and is there any
way around it?
Published 13.10.2005
A tribunal recently ruled that the profit shifting scheme used by two married couples who were shareholders in the same company was caught by anti-avoidance rules. What went wrong and how can you
avoid the same trap?
Published 18.02.2014
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
Your company needs extra working capital. Your other half has suggested that as her savings earn interest at a paltry rate she can lend the money for a reasonable rate of interest. How can you
structure the deal for maximum tax efficiency?
Published 12.05.2014
You’re about to form a new company of which you’ll be the main income generator. To save tax your spouse will own shares in the company. Should you subscribe for shares and give some to them, or
should you both subscribe?
Published 08.07.2019
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 few years ago the Taxman got hammered by the court in the Arctic Systems income shifting case; recently he tried his luck again. He lost but it was a close call. What tax planning tips can be
gained from this latest case?
Published 29.09.2010
The tax general anti-abuse rule (GAAR) became law this summer, and there have been rumblings that HMRC will use this to attack income shifting between spouses. Should you be concerned about this?
Published 13.11.2013