Amidst the constant pressure surrounding tax avoidance, it can difficult to forget the tax reliefs that are available to us and the importance of making sure that we maximise all such claims. Continue reading
Many company shareholders, and business partners, personally own the trading premises from which their company, or partnership, operate. Charging the company rent to use the premises might be considered to be a tax efficient way of a shareholder extracting profits Continue reading
The ability to claim entrepreneurs relief when a business is incorporated has, very confusingly, been changed several times over the last year. Due to the changes made this is an area where errors are very likely.
So what is the position now? Can a claim be made or not? Continue reading
Entrepreneurs’ relief (ER) is a very valuable relief for individuals who sell shares in a trading company or dispose of the whole or part of a trading business. Where the qualifying conditions are met ER reduces the capital gains tax rate on a disposal to only 10% on lifetime gains of up to £10 million, giving a potential tax saving of up to £1 million. Continue reading
From 6 April 2016 all interest paid on your savings will be paid gross, prior to this most people received their interest net of basic rate income tax. Continue reading