Contents
Don't leave it to chance
Family tax planning
Tax payback - tax credits
Pay rise for the other half?
Jam today, or jam tomorrow?
Pension payments and tax relief
Employee pensions
Children's pensions?
Borrowings and tax
Investment limits
Employee cars and fuel
Give generously and save tax
Capital gains
Capital losses
Second homes
Company or trade?
Inheritance tax
Children's savings?
Business tax
Two jobs = too much NIC?
Should VAT be flat?
Mutiny and bounty
One careful owner
A matter of trust
Tax relief on loans to buy your own home was finally killed off on 5 April 2000. But if you run a company or an unincorporated business, or if you intend to buy or improve property to rent out, it is generally possible to enjoy tax relief on interest paid. Although the terms of such "business-related" loans may be different, the tax relief can reduce the cost to 60% of what it would otherwise be. 60% of 7% is less than 100% of 5%! If the rates and terms are the same for a domestic mortgage and a "buy-to-let" loan, the tax relief on the second is a pure advantage.
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© Bayar Hughes & Co., 2010.