2004 - November
A series of companies designed to…
These days taking dividends from your company could increase its tax bill. A colleague has told you there is a way round this by starting a new company. This seems a bit drastic to you, but is there anything to his suggestion?
One of our subscribers recently had the Taxman query whether their company vehicles needed to be kept clean. Is this as ridiculous as it sounds or is there more to it?
Insignificant private use means…
On his website, the Taxman recently sneaked in his own interpretation of what “insignificant private use” of company vans means. What do you now need to do in response to this?
If you’ve put a goodwill figure into your company accounts there’s a growing chance this will result in an enquiry from the Taxman. However, there is a way to minimise this risk. Read on…
Once your 2003/4 personal tax return has been processed, the Taxman might tell you not to bother again. What’s the catch, if any?
Inheritance Tax is famously described as a “voluntary” tax because it is so easy to avoid. This rather overstates the case, but it can be paid unnecessarily if no-one has shown you the escape routes. Here’s one of them…
You’ve heard from a colleague that the Taxman’s given up taxing trivial benefits. With the season of goodwill just around the corner can you take advantage of this concession? What’s the full story?
It’s come to light that a former director has claimed “business” expenses but not provided sufficient evidence to justify them to the Taxman. Is this really a problem? If it is what can you do about it?
Tax and the Disability Discrimination Act
From October 1 the Disability Discrimination Act (DDA) insists you make “reasonable adjustments” to your premises. However, the Taxman might not give you a tax deduction for these. Unless…
There can be a Capital Gains Tax advantage to you in buying and later selling a commercial property. But what about your tax bill on any rental income from the property. Is there a way to shelter this too?
Funding a buy-to-let portfolio
You have a property, bought some years ago, which has risen significantly in value. What’s the most tax efficient way to realise the profit from this growth, for reinvestment?
You’ve heard that a recent case means that spouses who both draw dividends from their company will now have to pay more tax. Is this true?
You have a life policy that will pay out a substantial sum on your death. However, a recent case suggests that this payout might be taxable under Inheritance Tax rules. What do you need to do to avoid this?