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Tax Planning

“Money” is the thing which keeps the world go around. Everyone, including Individuals, Corporations try their best to have their share of your money all the time. Examples are, Landlords / Mortage companies take – 30% – 40% of your Income Council Tax – take 5% of your Income Car Read more…

Profit Extraction

For Business owners “Extraction of Profit” from the family owned Ltd company has always been an important discussion with their Accountants. The opportunities are in Using Personal Car for Business and utilising the Generous Mileage Allowance offered by HMRC. Taking Life Cover as “Relevant Life” and writing it into a Read more…

How to deal with Living Wage?

Living wage in UK is currently set at £7.20 per hour and set to rise to £7.50 per hour from April 2017, a rise of 4.16%. This is an issue for Small Businesses in the UK. For a Service Based Businesses, this adds to the overheads.  Is the Government pushing Read more…

Corporation Tax

Corporation Tax is a Business Tax payable on the profits of a Limited Company.  When it comes to Family Managed Businesses, Corporation Tax can be reduced by the following Director Salaries Mileage allowances for Directors Director Pension contributions Director Bonuses Director Use of Home as office Director Life Insurance The Read more…

What after Self Assessment?

Now that Self Assessment Tax returns are out of the way, what should Businesses focus on? The focus should be on 5th April 2017. what major Tax strategies are you focusing on? Is it to be treated for 2016-17 Tax year? Do we need to declare Dividends? Do we need Read more…