Business Tax Insider Newsletter - 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 February Business Tax Insider newsletter. As part of your free trial you’ll also get instant access to 408 tax saving strategies from our online tax articles.

Here is what our experts are sharing this month:

  • Should you pay dividends before 6 April 2020?

    As we enter the final months of the 2019/20 tax year, family companies should renew their profit extraction policy and consider whether they can and should pay further dividends before the end of the tax year.

    Sarah Bradford outlines the factors that you should take into consideration when deciding whether it is tax-efficient to pay dividends before 6 April 2020.

  • Retiring – Tax-efficiently! 

    The potential to work in and eventually take over a family business is a very attractive proposition to young entrepreneurs. An existing family-owned company is often able to benefit from the skills offered by a new generation and their ability to potentially support diversification into profitable new areas. 

    Iain Rankin discusses how the principal shareholders of a family-owned company might plan for a comfortable retirement by utilising their entitlement to entrepreneurs’ relief.

  • Don’t forget goodwill!

    The valuation of assets can be important for tax purposes. For example, a valuation may determine the amount of inheritance tax (IHT) payable on a lifetime transfer (e.g. the transfer of an investment property to a discretionary trust) or on an individual’s death estate.

    Mark McLaughlin highlights two circumstances in which business owners may be thankful of goodwill in the business.

  • Plan your remuneration strategy!

    This article covers the key election manifesto tax pledges by the Conservative Party and how they might affect the typical owner of a family business. This article was written soon after the general election itself, so it is entirely possible that government policy will be further modified over the coming months. 

    Mark McLaughlin looks at planning using the capital gains tax annual exemption.

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 408 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:
PPR relief: A ‘residence’ or a quick profit?

Mark McLaughlin looks at the distinction between occupying a dwelling as a ‘residence’ or to make a profit on sale following a short period of ownership. 

The principal private residence (PPR) relief rules for capital gains tax purposes require a dwelling to have been a ‘residence’ of the individual to whom the gain accrues (TCGA 1992, s 222(1)). 

What is a ‘residence’? 

The term ‘residence’ is not defined in the PPR relief legislation. However, case law

SDLT on the purchase of residential property: All change?

 Meg Saksida sums up recent and proposed changes in stamp duty land tax on residential properties. 

Stamp duty is said to be the second most hated tax in Britain; the runner up to the abhorred inheritance tax.  

Apart from a gift, or a transfer on divorce, or a transfer as a result of a will or intestacy, stamp duty land tax (SDLT) is payable on every acquisition of property or land in England and yields approximately £1 billion of income monthly from the.

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