PROFIT EXTRACTION - 29.11.2023
Setting tax-efficient salary - don’t be too quick on the draw
As a director of your small company you have complete autonomy over when and how you are paid. What do you need to consider before committing your company to a salary if cash is tight?
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INHERITANCE TAX - 29.11.2023
Problem with residence nil rate band rules?
The mother of one of our subscribers owns a house in a retirement community. When she dies the property must be sold back to the property management company. Will this mean the estate will lose the residence nil rate band (RNRB)?
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CAPITAL GAINS TAX - 29.11.2023
How to transfer a business to a company tax efficiently
Anti-avoidance rules prevent business asset disposal relief applying on capital gains made from transferring goodwill from an unincorporated business to a company. But it’s still possible to achieve a 10% tax rate. How’s it done?
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DIRECTORS’ REMUNERATION - 29.11.2023
New companies - how soon can a director be paid?
You’ve formed a company and are in the process of getting it up and running. As it hasn’t generated any income yet can it pay you a salary, and if it does will it be entitled to tax relief for it?
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PROFIT EXTRACTION - 29.11.2023
Company loans - a cheap form of profit extraction
Despite falling inflation, the Bank of England says it won’t rush to reduce interest rates. So, if you need a loan and your company has available cash is it cheaper and more tax efficient to borrow from it instead of your bank?
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EXPENSES - 29.11.2023
Handling mixed-purpose travel expenses
Your company pays for an employee’s business trip which lasts a few weeks. The employee uses his downtime to make sightseeing trips. Does this private purpose mean that your company has to treat any part of the expense as taxable?
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