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Business Tax Insider
Business Tax Insider
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Brand NEW business tax saving magazine.
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3 FREE ISSUES
The current issue and the previous (first) issue delivered to your doorstep.
Here is what our tax experts are sharing with you in this month's magazine:
- Company Shareholders - How to Use Rights Issues and Bonus Issues of Shares
Private companies invariably start their lives with a nominal number of shares of a nominal value. This enables the company to start trading, but as the company evolves that number may need to be increased for a variety of reasons... - Could your Company be Claiming Research & Development Tax Relief?
My firm recently took on a new client in the engineering industry, and I was brought in to discuss possible tax planning ideas with them. When I mentioned ‘R&D’ (Research and Development), the engineering director said they didn’t do much R&D – he described his company’s work as ‘solving practical problems’. To cut a long story short, after much discussion we are now working on a claim for R&D tax relief that we expect to reach well over £200,000, giving a tax repayment of at least £50,000 to a company that were convinced they did not do any R&D... - Shareholder Exit Strategies - Company Purchase of Own Shares v MBO
Where a private company shareholder wishes to exit as a shareholder (and usually also as a director/employee) the first notion which usually springs to mind is for the company to purchase the shares, which the Companies Act 2006 permits provided that certain conditions are met and procedures followed... - How to Obtain a VAT Clearance from HMRC
A business can telephone the National Advisory Service on 0845 010 9000 to ask for information and guidance from HM Revenue & Customs (HMRC). That is useful for simple matters such as checking a VAT number quoted (incidentally, always state the name and address of the other business as well as the number because the full details can then be confirmed)...
- Tax Insider: Tax Tips
- Tax Insider: Your Property Tax Questions Answered by Arthur Weller
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Customer Success Stories
My accountant and I need absolutely accurate and the most up-to-date advice that we can possibly get. Time and time again Tax Insider has come up with the goods!
I wholeheartedly recommend the ‘Tax Insider’ to anyone who is interested in legitimately minimising their tax bill.
Dr Bennie Mallett, General Practitioner
I wholeheartedly recommend the ‘Tax Insider’ to anyone who is interested in legitimately minimising their tax bill.
Dr Bennie Mallett, General Practitioner
Business Tax Insider will benefit business owners, company directors and entrepreneurs.
Each month our experts reveal tax saving strategies covering the whole business life cycle including:
Each month our experts reveal tax saving strategies covering the whole business life cycle including:
- Tax saving tips for early years of business
- How to maximise business expenses
- How to maximise capital expenditure
- Extracting profits from a company
- Tax implications of employing people
- Tax efficient business exit strategies
- Plus more…
- Corporate Partners – Current tax Advantages(May 2013)
- Fixtures in commercial property – what has changed?(December 2012)
- Self Employed and Trading Profit Tax and Planning: Part 2(December 2010)
- Self Employed and Trading Profit Taxation: Part 1(November 2010)
- How to Use Dividend Waivers to Save Tax(November 2010)
- How to Save Tax with an ‘EFRBS’(September 2010)
- Tax Savings for Entrepreneurs(September 2010)
- How to Buy the Trade and Assets of a Business Without VAT(August 2010)
- Fighting Property Values with HMRC(August 2010)
- How to Claim Relief for Trading Losses - And Don’t Forget Class 4 NIC!(August 2010)
- Signing over property to a child(March 2012)
- Am I able to claim back stamp duty land tax (SDLT)?(February 2012)
- What is the most tax efficient way to be left with most of a £250,000 profit from a sale?(February 2012)
- What would happen if my employer has not been paying my tax?(January 2012)
- CGT or Corporation Tax or both?(January 2012)
- Will we be liable for stamp duty on our first UK property purchase?(December 2011)
- If I purchase a van may I claim this against my properties' capital gains?(December 2011)
- How can I tackle the tax man’s demands?(October 2011)
- I am an ex director of a now dissolved company what is my position and the tax position of the company?(October 2011)
- Do We Have to Pay Both Class 2 and Class 4 Insurance Contributions?(October 2011)
Do We Have to Pay Both Class 2 and Class 4 Insurance Contributions?
We are a partnership and our main business is rental income. Do we have to pay Class 2 Insurance contribution being self-employed and class 4 Insurance contributions on the rental income profit?
Arthur Weller Replies:
This is a quotation from Tolley’s:
“Property letting will rarely be regarded as self-employment for national insurance purposes, although if the extent of the landlord’s involvement in managing the lettings and looking after the properties is substantial (which might be particularly relevant for furnished holiday lettings), it is possible that the activities will constitute a business, in which case Class 2 national insurance contributions will be payable. Class 4 contributions are only payable where income is taxed as trading income. Even though rents are now treated as being from a business in calculating property income, this is not the same as saying that a business actually exists, and it does not alter the national insurance position.”
- Agree The Split Of Partnership Profits And Losses(March 2013)
- Capital Allowances Must Be Claimed(February 2013)
- Claim A Deduction For Training Costs(January 2013)
- Use Actual Costs Rather Than Fixed Rates Where These Are Higher(December 2012)
- Tax-Free Benefits And Expenses(November 2012)
- Pay PAYE Quarterly(October 2012)
- Terminal Loss Relief: Individuals(September 2012)
- Choose The Method Of Relief For Early Year Losses(August 2012)
- Bonus Or Salary?(July 2012)
- Choose The Right Finance Option For Your Business(June 2012)
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