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Here are just some of the strategies our tax experts are sharing with you this month:

  • Dividend Waivers – Beware The ‘Settlements’ Rules!

    James Bailey points out a potential income tax pitfall for family company shareholders, particularly those who are spouses or civil partners. In a typical family company, paying dividends is a tax-efficient way of extracting profits for the shareholders. Dividend waivers, where a shareholder gives up the right to a particular dividend, can also...
  • Tax-Free ‘Perks’ For Employees

    Sarah Laing highlights some tax-efficient benefits and expenses that employees can offer their staff. Employers often make up a total employment package by providing extra benefits on top of salary. This article looks at some of the more...
  • Claiming VAT Bad Debt Relief – Do’s And Don’ts

    Andrew Needham looks at the do’s and don’ts of claiming VAT bad debt relief. Any business that has not been paid by a customer can claim its VAT back once the debt is overdue for payment by...
  • Who Shares Wins! Entrepreneurs’ Relief For All The Family

    Chris Williams explains how a little advance thought and planning can improve the benefit of this valuable capital gains tax relief. For some, the individual lifetime allowance for entrepreneurs’ relief purposes (i.e. £10 million) that allows sole trader, partner or shareholder to reduce the rate of capital gains tax (CGT) to...
  • Pitfalls In Pension Contributions Allowance Carry Forward

    Tony Granger considers how to increase your pension contribution funding, but warns of potential pitfalls. Budget 2014 prepared the way for increased flexibility with regard to the future of defined contribution pension funds, allowing greater access to pension funds as cash and doing away with...
  • Still On The Agenda: Nil Rate Band Will Trusts

    Malcolm Gunn outlines why nil rate band Will trusts may still be useful in some cases. Up until October 2007, it was viewed as de rigeur that Wills of a husband and wife should contain provisions for a nil rate band discretionary trust. However, when the transferable nil rate band was introduced with effect from 9 October 2007, it was thought that such trusts became...
  • Should I Reduce My Payments On Account?

    Sarah Bradford explains when you may want to reduce your self-assessment payments on account, and the consequences of getting it wrong. Under self-assessment, payments on account of the current year’s liability are due on 31 January in the tax year, and on 31 July after the end of the tax year. To the extent that any further tax is due, the balance must be paid by...
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