All Domains

2004 - October

VAT - 21.10.2004

Pre-registration input VAT

In a recent tribunal case the VATman used a different interpretation of the law concerning claims for pre-registration input VAT. Will this affect any claim you’ve already made or could make in future?


PROFIT EXTRACTION - 21.10.2004

Due and payable date for dividends

The Taxman may challenge dividends not properly declared and paid in accordance with company law formalities. However, there are ways to sidestep most of his current arguments. What are these?


RECORDS - 21.10.2004

Proving your business mileage

If the Taxman starts asking questions about the accuracy of your business mileage what records are you have supposed to have kept? Is there an easy way to satisfy his curiosity?


INTEREST - 21.10.2004

Passing on a loan to your business

You’re thinking of personally raising some finance for your business. How can you make sure you get a tax deduction for any interest paid on this loan? Are there any traps for the unwary? Strictly business


REMUNERATION PLANNING - 21.10.2004

Waiver of salary

You currently take a large salary from your company but for tax reasons are considering only taking £4,745 next year (the balance to be taken as dividends). Will this drop in salary trigger an enquiry from the Taxman?


CORPORATION TAX - 21.10.2004

On the up

The bottom line is that you’ve a taxable profit this year. If you’ve made losses in the past can you offset these against that profit? If so what’s the most tax efficient way of doing this?


TAXTITBITS - 21.10.2004

Give (and take)


TAXTITBITS - 21.10.2004

Letters to EU customers


OFFSHORE - 21.10.2004

Jersey cream turns sour

If you have a bank account in another EU country (which the UK Taxman doesn’t know about) what are the chances of him getting details about it?


NEWS - INHERITANCE TAX - 07.10.2004

Changes to IHT?

There’s a rumour doing the rounds that the Government is soon to introduce new bands and rates for Inheritance Tax (IHT). Is this true?


NEWS - REMUNERATION PLANNING - 07.10.2004

It’s official: employers can avoid tax!

Workplace schemes that you employ to save tax might now be caught by new disclosure rules. How far do you really have to go and is there a way round this red tape?


EXPENSES - 07.10.2004

Uninsured losses

If you can’t recover your costs (e.g. for damages) under an insurance policy, can you still claim a tax deduction for them in your accounts? If the Taxman objects how can you put him right?


TAXTITBITS - 07.10.2004

Keeping tax credit overpayments


TAXTITBITS - 07.10.2004

Hands-free, tax-free


OVERSEAS PROPERTY - 07.10.2004

Local property taxes

If you have or are thinking of owning a property abroad and renting it out, there are some UK tax myths that you should be aware of. There is also some news about what other European Taxmen are up to. What do you need to know?


PAYE - 07.10.2004

Worth the wait?

Deferral of a bonus until after termination of employment is a tax-planning scheme that the Taxman has recently given the green light to. Is this because there is no real tax advantage to be had?


PROFIT EXTRACTION - 07.10.2004

Dividend planning

The new dividend tax applies to all companies with annual profits of £50,000 or less. So the regime can catch any company if it’s having a lean year. However, there is a way you can reduce this tax bill. How’s it done? Your company


VAT - 07.10.2004

A slap on the back

If you buy a little thank you gift for your staff can you claim the VAT back on it? Are the rules any different if you want to reward a member of your staff with a meal in a swanky restaurant?


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