Personal Tax
Do dividend waivers still work?
You need to take a dividend from your company but there’s just one problem. Your business partner, who is also a 50% shareholder, doesn’t want to take any more income from the company during this tax year. What’s the solution?
Give your children a cheap mortgage
Your son is struggling to get on the property ladder and current mortgage interest rates are making it harder. You’re over the inheritance tax (IHT) threshold but you’re reluctant to give him the money because you’ve heard horror stories about others losing half of it in a divorce. Is a family loan the solution for both of you?
The hidden income tax benefit of marriage
You recently got married and a relative joked that you can save lots of money because of the tax breaks for married couples. As a newlywed are you entitled to a reduction in your income tax bill?
Elevate your HMRC complaint
If complaining to HMRC gets you nowhere you can ask the Adjudicator’s Office (AO) to review your case. The process can be trickier than it ought to be. What problems might you encounter and how can you avoid them?
IHT planning with the family home
You want to take steps to reduce your inheritance tax (IHT) exposure but most of your wealth is tied up in your home. You don’t want to downsize anytime soon so which tax planning options could help you?
Should you use simplified expenses?
The flat rate expense you can claim for business journeys if you’re self-employed has increased to 55p per mile. Can you use simplified expenses for motoring costs and is it more tax efficient to do so?
Getting out of the child benefit tax trap
You expect to earn over £60,000 for this tax year which means you may have to pay back some or all of your family’s child benefit due to the high income child benefit charge (HICBC). Is it possible to reduce the charge?
Investment bond - undercover tax trap?
Inheritance tax is a hot topic but most couples only need to be concerned if they are worth more than £1m. What you don’t hear about is the income tax charge on investment bonds that’s payable on death. Can you reduce the tax bill before it’s too late?
Using the EIS to unwind capital gains tax
You inherited shares from your father last year and sold them several months later making a tidy capital gain. You’ve read that the enterprise investment scheme (EIS) can defer the resulting tax bill, but how might it reduce it?
No such thing as a (tax) free lunch?
You run a small consultancy company and treat your staff to lunch in the office once a week. Your bookkeeper says it’s a taxable benefit in kind because staff lunches are only exempt if they are provided in a workplace canteen. Is this correct?
EVs and the tax-free mileage allowance
You’re a director and regularly use your electric vehicle (EV) for business journeys. Your company provides a workplace charger which is free for all staff to use. Does the origin of the electricity impact your claim for tax-free mileage?
Investing: loans vs shares
You have the opportunity to invest in a promising start-up company. You can either purchase shares or lend it the money. What are the potential tax consequences you need to factor in when making your decision?