Business Tax Insider - Tax Insider

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Business Tax Insider

Business Tax Insider is your monthly guide to tax-saving strategies whether you're a professional advisor, an entrepreneur, a business owner or are a company director.

Each month our tax experts and authors share practical tips to help you better manage your tax affairs and reduce your tax liability.

Take a free 14-day trial today and download the December Business Tax Insider newsletter. As part of your free trial you’ll also get instant access to 389 tax saving strategies from our online tax articles.

Here is what our experts are sharing this month:

  • Transferring shares and interests in land? Be careful! 

    There are obviously a number of motives behind people transferring interests in property, or property holding company shares, to other people; but I’m going to be concentrating here on gifts (or ‘sales’ at a significant undervalue), which are made with a view either to reducing the transferors’ inheritance tax (IHT) liability, or to benefiting the recipients. And indeed, it’s here that the tax implications become a little bit thorny on occasions. 

    Alan Pink considers the tax implications of transferring shares and land, and highlights a pitfall with ‘clever’ planning.

  • What must you do when engaging construction workers?

    Special tax rules apply to the construction industry; the way in which workers are treated for tax purposes will depend on whether the worker is an employee or self-employed. 

    Mark McLaughlin looks at whether HMRC may sometimes be too late to assess additional tax when a discovery is made.

  • Dividends and spouses: An interesting mix! 

    In this article, I’ll look at how to ‘spread’ dividend income between spouses and civil partners in a couple, to maximise the tax benefit. 

    Lee Sharpe looks at the rules for sharing dividends between spouses and civil partners. 

  • Inheritance tax: Who went first?

    For married couples (or civil partners), when one spouse dies their estate is administered in accordance with their will (if valid), or under the law of intestacy. Any inheritance tax (IHT) liability will be calculated accordingly.

    Mark McLaughlin points out the importance for inheritance tax and general law purposes of determining which spouse or civil partner died first.

Benefits of Business Tax Insider
  • Monthly business tax newsletter
  • Written by leading practising UK tax advisors for business owners and entrepreneurs
  • Most popular ways to reduce tax liability
  • Contains popular business tax Q&As
  • Immediate access to all 389 previous articles
Who is it for?
  • Small business owners
  • Family companies
  • Entrepreneurs
  • Accountants
  • CEOs
What topics do you cover?
  • Remuneration
  • VAT
  • Business taxes
  • Investment taxes
  • National Insurance
  • Dividends
  • And more

 

As part of your free trial, you will also get immediate access to the following popular tax-saving strategies:

  • Decisions, decisions! Salary Vs dividends

Lee Sharpe crunches some numbers for combining salary and dividends.

 

  • Directors' tax perks: Off the beaten track

Alan Pink looks into some useful but little-known directors’ tax perks.

 

  • Tax relief for business gifts and entertaining: Common misconceptions

Lee Sharpe looks at the principles behind tax relief for entertaining and related expenses, highlighting some expenses, typically classed as entertaining that could actually be classed as a different – allowable – deduction.

 

  • Selling the business: Shares vs assets

Alan Pink contrasts the tax implications of the sale of trading company shares and the sale of the company’s trade and assets.

 

  • ‘Spreading the load’ with spouse dividends

Alan Pink looks at a common income tax mitigation technique, and ‘danger areas’ to avoid.

 

As part of your free trial, you will also get immediate access to the following popular tax-saving strategies:
Asset Transfers - hidden treasures

As the rather strange old saying has it, there’s more than one way to skin a cat. There are also all kinds of reasons why a person might want to transfer assets to someone else: and very often, as we will see, there’s a choice between methods of achieving this transfer, some of which trigger large tax liabilities, and some of which don’t.

Below is an excerpt from our best-selling tax report Asset Transfers: Hidden Tax Traps and Treasures which takes a look at the popular method of Asset Protection.

Asset Protection

Asset Transfers

As the rather strange old saying has it, there’s more than one way to skin a cat. There are also all kinds of reasons why a person might want to transfer assets to someone else: and very often, as we will see, there’s a choice between methods of achieving this transfer, some of which trigger large tax liabilities, and some of which don’t.

Below is an excerpt from our best-selling tax report Asset Transfers: Hidden Tax Traps and Treasures which takes a look at the popular method of Asset Protection.

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