Tax Breaks
Five powerful Tax Breaks every month. See how much they could save you

February 2014

  • A tax-saving bonus for a new employee

    If you’re taking on a new employee from outside your local area, you can make use of a tax break to boost their net income and save you money into the bargain. How does this work?

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  • When is VAT not due on a deposit?

    When you ask a customer for an up-front payment - a deposit - you must charge VAT. However, if they don’t go through with the purchase and you keep their money, can you also keep the VAT?

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  • Can employment termination payments be entirely tax free?

    It’s common knowledge that employers can pay up to £30,000 tax and NI free to departing directors or employees. But did you know a different rule might mean you can pay much more without having to worry about tax?

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  • Don't miss out on capital allowances for gifts

    If someone has given you a new computer or other piece of equipment which you use in your business, you can claim a deduction. But for how much?

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  • Varying a will effectively

    If a will is varied by its beneficiaries but isn’t effective for inheritance tax purposes, it might result in some serious legal and financial problems. The good news is that a simple clause in the variation deed will solve the problem. What does it need to say?
     

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Tax Breaks Directory

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