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

July 2017

  • Home-to-work travel - when is the cost deductible?

    As a rule, the cost of travelling to and from your home to a place of work isn’t tax deductible. But where do you stand if your home is also your workplace? 

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  • Maximising QCB tax efficiency

    Selling your business in exchange for qualifying corporate bonds in the purchasing company can be a good option. But what steps can you take to improve tax efficiency?

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  • The capital goods scheme trap

    If you sell a property which you “opted to tax”, you might have to charge VAT when you sell it. This is usually tax neutral for you, but not always. How might it cost you VAT and can you avoid it?

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  • An unexpected catch to lending money

    Lending money, say, to a family member is nothing unusual, neither is waiving the loan if they can’t repay it. The trouble is this won’t clear the debt for tax purposes, which could increase the IHT payable by your estate. How can you dodge this trap? 

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  • Tell HMRC what it can do with its tax bill!

    When you pay your self-assessment tax bill HMRC will automatically allocate your money where it sees fit. This might not be to your advantage. Can you force HMRC to allocate the payment in the way you want?

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Tax Breaks Directory

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