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
|
If you run a business - whether it's a sole trade, a partnership or a limited company - the end of your accounting period is the most important date for tax planning. You can move income and expenditure from one year to another, changing the rate of tax and delaying tax payments, by reviewing your plans for purchases and sales of capital assets or the payment of bonuses, and other significant expenses. If you operate through a "personal service company" - a company which provides your services to clients who would otherwise be regarded as your employer, if the company was not there - you need to consider the effect of the "IR35" rules. The tax charge has received widespread publicity, and you are likely to be aware of it if it affects you, but any individual who sells their own services through a company should consider regularly whether they could be affected.
| ||||
© Bayar Hughes & Co., 2010.