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

February 2017

  • Produce investment capital from trading losses

    One of your companies is struggling, but the good news is that tax rules might offer the chance of a personal tax refund which you can use to boost your business. How’s it done?

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  • Salary is more tax efficient than a perk

    Salary is usually the most expensive way, in terms of tax and NI, to get money out of your company, but not in every case. When are you better off taking salary or a bonus instead of benefits in kind?

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  • When does a building qualify for capital allowances?

    Generally speaking, you can’t claim a tax deduction against your business profits for the cost of buildings or structures, but there are exceptions. When are you entitled to make a claim?

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  • Don't pay too much CGT on inherited property

    From April 2017 a new relief can reduce the inheritance tax payable on property, but that’s not the only tax you need to worry about. If you sell a home which you inherited, what steps can you take to ensure that you don’t pay too much capital gains tax?

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  • Repaying input tax to avoid a penalty

    Usually you can reclaim VAT on purchases for the VAT quarter in which you receive the goods or services, even if you don’t pay for them. However, if you delay paying the supplier’s bill you might have to repay the VAT you reclaimed or face a penalty. What steps can you take to avoid this?

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Tax Breaks Directory

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