You’ve converted a room in your house into a study so that you can work at home more often. A colleague tells you that this can mean that you’ll lose some of the capital gains tax relief that usually applies to homes. Is he right?
Working from home
As the owner manager of a business working at […]
Rate of tax for the loans to Directors to go up!
Who is likely to be affected?
Close companies which make loans to their directors or make other arrangements through which directors extract funds from their companies.
General description of the measure
The rate of tax charged on loans to directors and other arrangements (currently 25%) is being specifically […]
When will the new dividend tax be payable?
A hike in tax rates will affect dividends you receive on or after 6 April 2016. Working out how much the extra tax will be is tricky enough, but when and how will you be expected to pay it?
New tax rules – recap
As a shareholder you’ll be aware […]
Are meals on the company ever tax deductible?
These days business lunches etc. are a common expense for most companies. The tax deductibility depends on who’s being fed and why. What are the rules and how can you work with them to maximise tax efficiency?
Meals are entertaining
As you probably know, tax rules don’t allow deductions for […]
If you have money to invest you could go for one of the government’s tax-advantaged schemes like ISAs. These have proved popular, but could the changes to scheme rules make a pension a better home for your cash?
Tax-advantaged investments
Tax-advantaged investments come in all shapes and sizes. Some offer tail-end tax benefits, e.g. ISAs, i.e. there’s […]
If your business provides company cars you need to take extra care in accounting for the cost of fuel. Get it wrong and your business and the driver will be hit with hefty tax and NI bills. What’s the problem and how can you avoid it?
Who’s paying the fuel bill?
As fuel prices fluctuate, keeping track can be a headache, yet […]
As directors, you and your colleagues hold the company’s purse strings. You can even borrow cash from it, but if you do company law imposes conditions. What are they and do you really have to bother with them?
In theory
As a director shareholder of a small company it’s easy to think of it as your business. The trouble […]
While the tax advantage of having a certain type of company van as a perk has reduced slightly, they remain tax efficient. But how do the tax charges compare to those for company cars?
Van or car?
You probably already know that manufacturers produce vehicles that cross the refinements of a car with the practical functions of […]
HMRC is working out 2016/17 tax codes ready for issue in early 2016. Changes to dividend and other investment income tax rates, plus a new system for taxing benefits might mean radical changes to your code. What’s the full story?
The right code
The amount of tax you pay on your salary etc. depends on your code […]
Earlier in 2015 changes to the rules for companies raising capital through the enterprise investment scheme (EIS) were announced. What effect, if any, do they have on the availability of tax breaks for investors?
EIS risk and reward
Because of the generous tax breaks it offers, EIS and its predecessor schemes have been one of the government’s […]
