A few years ago you personally borrowed money to help your company through a sticky patch. A colleague says that you could claim a tax deduction for this. Assuming he’s correct, how much tax relief
can you claim?
Published 16.10.2019
Your business needs a vehicle and some equipment. It will have to borrow to make these purchases. You personally have the cash which you could lend to the business, but might there be a more
tax-efficient option?
Published 06.02.2024
Your new company needs working capital. You could provide it by buying more shares in it or you could lend it the cash. The latter might produce a quicker return on your money plus tax savings. How
can you take advantage of these?
Published 28.03.2019
Our subscriber borrowed money to provide funds for his company. He’s claimed a tax deduction for the interest paid on the loan, but HMRC has started an enquiry saying that because the company is not
“close” no tax relief is due. Is this correct?
Published 14.11.2022
Our subscriber’s business is in need of extra cash. As a young company it doesn’t qualify for coronavirus loan schemes. If instead she personally raises cash by remortgaging her home are there any
tax consequences?
Published 18.11.2020
To reduce the tax on dividends paid by your company you’re considering transferring some of your shares to your spouse. The plan is to do this by way of a gift, but is there an extra tax advantage if
you sold them instead?
Published 08.05.2022
Owning your company jointly with your spouse can significantly reduce your tax bill compared with owning it alone. It’s worth transferring shares as a gift to achieve this, but might a sale to your
spouse be even more tax efficient?
Published 19.02.2019
You started your company using a bank loan on which you claim tax relief for the interest you pay. The business has grown and you want to bring other family members in by giving them shares. Why
might this increase your income tax bill?
Published 09.02.2022
As a residential landlord you’ll know that HMRC is reducing tax relief on interest you pay on loans used to buy properties to let. Transferring a let property to a company is one way to avoid this,
but is there a better alternative?
Published 19.03.2019
Working out the tax relief that you’re entitled to for interest you pay on your buy-to-let-related loans isn’t simple. How is it calculated and why is it so important to keep track of it?
Published 28.06.2022