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

February 2016

  • Stretching the FRS advantage

    Using HMRC’s VAT flat rate scheme can save time and money, but you need to be a small business to use it. How can you use the rules to take advantage of the scheme as your business grows?

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  • Avoiding an IHT double whammy

    If someone dies shortly after receiving an inheritance, their estate could effectively be hit twice for IHT. Can the executors save the day by claiming quick succession relief?

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  • Tax deductible personal expenses

    Sometimes it’s easier and more convenient to meet business costs out of your own pocket. Will this jeopardise a tax deduction or are there steps you can take to guarantee you don’t lose out?

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  • Beware contractual termination payments

    Termination of employment payments made to a former worker are usually tax free up to £30,000 and entirely free from NI, but there are exceptions. How can you ensure you don’t get caught by these? 

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  • Stock up on tax savings

    The annual stock take is a necessary evil, but can you turn it into an opportunity to reduce your company’s tax bill?

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