Business Tax Insider Newsletter - Tax Insider

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.

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.

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.

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.