Business Advice Directory

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Tax

Safe to use tax-saving advice that you can really put into practice

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Featured advice

CONSTRUCTION INDUSTRY SCHEME

No more CIS tax refunds

TRAVEL

The latest on home-to-work travel

HMRC has changed its guidance on home-to-work travel costs where an employee’s home is their workplace. How might this affect your right to tax relief?

PROFIT EXTRACTION

Can dividends ever be paid from loss-making company?

Dividends are generally the most tax-efficient form of income you can take from your company but they can only be paid out of profits. Despite this, might there be a way for your loss-making company to pay you a dividend?

BENEFITS

The tax advantages of benefits in kind

Your company is doing especially well and you want to take advantage of its good fortune. The priority income you take should be tax efficient. Why might benefits in kind be your best option?

CAPITAL GAINS TAX

Did MP dodge capital gains tax?

A story about Angela Rayner MP and the sale of her property has recently been doing the rounds in the media. The reports suggest that the police are investigating possible tax evasion. Is this justified or just wild speculation?

PROPERTY

Property expenses - HMRC admits error

In late 2023 HMRC wrote to landlords suggesting they may have claimed tax relief they weren’t entitled to. It now accepts it was wrong. What’s the full story?

NATIONAL INSURANCE

New service for voluntary NI contributions

HMRC recently launched a new online service to help top up your NI contributions record. Is it something you should consider using?

PAYROLL

Don’t overlook the P60 deadline

The deadline for providing P60s for 2023/24 to your employees is 31 May 2024. Your payroll software will produce the P60s but who should you provide one to, and what are the consequences if you don’t?

CARS

Reduce company car tax with capital contribution

It’s time to replace your company car. A friend says that if you make a personal contribution to the cost it will be more tax efficient. The trouble is, you don’t have the cash for this. Is there still a way to achieve the tax saving?

HOMEWORKING

Creating a home office tax efficiently

You want to erect a cabin in your garden to use as a home office. You and your family will also use it for private purposes. Will it be more tax efficient for you or your company to pay for it?