22 - August 2019Make sure to share this article with anyone you know who runs a family business – so they can take advantage of the many ways to lower their tax bill!
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Optimising tax-free benefits in family companies Making use of statutory exemptions for certain benefits-in-kind offers an opportunity to extract funds from a family company without triggering a tax charge. The essential point to note is that to make the tax saving, the benefit itself, rather than the funds with which to buy the benefit, must […]
20 - August 2019If you need help on how to time dividends, read our short article that explains the basics
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Timing dividends right could help save tax Timing the date of a dividend payment from a company can determine both the amount and the due date of the tax payable. This may be a particularly useful strategy in a close- or family-owned company. The dividend allowance, which was originally introduced from 6 April 2016, was […]
20 - August 2019A quick summary of the new tax bands for CO2 car emissions which will be introduced from April next year:
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Are low emissions cars tax efficient? Significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price, including the full value of any accessories. This figure is then multiplied […]
18 - August 2019Do you spend more than 6 months of the year outside the UK? Make sure you’re compliant
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Non-residents landlord scheme A non-resident landlord is a landlord who lets out property in the UK but spends more than six months in the tax year outside the UK. A special tax scheme – the non-residents landlord scheme – applies to these landlords. Under the scheme, tax must be deducted by a letting agent or […]
16 - August 2019A quick guide to what should be included when calculating the profit or loss for a property rental business.
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Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is overlooked. The receipts which need to be taken into account may include more than simply the rent received from letting out the property. Rent and other receipts Income from a […]