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Here are the 12 strategies our tax experts are sharing with you as part of your free trial:  

  • How The Reduction In The Dividend Allowance Will Affect Incorporation
    The decision to operate via a company should always be a commercial one and not tax driven. However, it is inevitable that tax costs will form part of any decision making over the most appropriate business vehicle. Lindsey Wicks examines how the reduction in the dividend allowance will affect the decision to incorporate...
  • Use Of Home As Office: Is HMRC Short-Changing Taxpayers?
  • 'Use of home as (an) office’ is a catch-all phrase to describe the costs that a self-employed (or partner) businessperson has in running at least part of their business operations from home. Lee Sharpe reviews HMRC’s guideline figures for self-employed taxpayers’ costs of working from home...
  • How To Lose Business Property Relief!
  • Business property relief (BPR) is a potentially generous form of inheritance tax (IHT) relief, which can reduce transfers of ‘relevant business property. Mark McLaughlin warns that inheritance tax business property relief can easily be lost due to the timing of certain transactions...
  • Incorporation Decisions - Where Do We Go From Here?
  • Budget 2017 created a stir with the announced increase and then abandonment of the increase in Class 4 National Insurance contributions for the self-employed. Ken Moody looks at the effect of other changes on the decision whether or not to incorporate...
  • Over £35,000 Tax-Free For 2017/18!
    Everybody knows that you have a tax-free personal allowance of £11,500 in the 2017/18 tax year (starting 6 April 2017), but what else is there to make use of? Lee Sharpe looks at the optimal mix of incomes to make best use of readily available allowances, etc. in the tax year 2017/18 to boost your tax-free income...
  • Penalties: HMRC Get It Wrong Again!
    Mistakes happen. Fortunately, the penalty regime for errors in tax returns, etc., (FA 2007, Sch 24) makes certain allowances for mistakes. For example, there is no penalty if an error has been made in an individual’s tax return despite ‘reasonable care’ having been taken. Mark McLaughlin points out penalties for careless tax return errors may sometimes be suspended - even though HMRC may not agree...
  • Getting To Know The Substantial Shareholdings Exemption
    If a parent or holding company in a group decides to sell a subsidiary company, it is quite likely that the gain on disposal will not be liable to corporation tax because of the ‘substantial shareholdings exemption’. Ken Moody outlines a very useful corporation tax exemption for companies in certain circumstances...
  • Corporation Tax Loss Relief Reform: A Thoroughly Modern Measure?
    Alan Pink finds a mixed message – and a mixture of motives – in the new company loss relief rules that have been announced...
  • More Pain On The Way For Family Companies?
    There was much to welcome about the new Chancellor’s Autumn Statement – not least that it was not by his predecessor, so was mercifully free of gimmickry! But both the speech and the accompanying documentation suggested that the government continues to harbour concerns about the tax cost of companies and incorporation. Lee Sharpe explains why he feels these concerns are ill-founded, and that it will almost certainly be family companies that pay the price with higher taxes.
  • Private Residence Relief For Landlords: When And How Much?
  • Lindsey Wicks looks at the mechanics of capital gains tax private residence relief, and how residential property landlords may be able to claim relief...
  • When A Casting Vote Matters!
  • Many owner-managed and family companies are owned by a small number of shareholders. It will sometimes be obvious whether a single shareholder has effective control of the company by virtue of their shareholding in it. This can be important for non-tax (e.g. commercial) reasons, but sometimes for tax purposes as well. Mark McLaughlin points out a possible trap and a planning point for company shareholders in relation to inheritance tax business property relief...

  • Loan Relationships: Something Old, Something New
    Whether their owners realise it or not, companies large and small are affected by the loan relationship rules. The legislation is extensive and complex – over 400 sections (across CTA 2009, Pts 5-7). The rules apply to certain types of securities, financial arrangements and instruments – too many to mention - as well as to more mundane loans and other debts. Ken Moody selects some aspects of the loan relationship rules that may be relevant in an owner-managed business context...
    • Tax Insider: Tax Tips
    • Tax Insider: Your Property Tax Questions Answered by Arthur Weller 

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