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

February 2009

  • VAT saving on fuel costs

    Fuel prices are beginning to creep up again. Currently, the cost of VAT on every litre of fuel your business buys is around 12p. This includes the amounts you reimburse your employees for business trips. It can be reclaimed from the Taxman but many businesses overlook this or under claim. What steps should you take to make sure you don't miss out?

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  • Tax-efficient lease
    Times are tough for property owners as well as businesses. Landlords are offering rent-free periods to induce potential tenants to sign up. It looks like too good an offer to refuse. But taking on a new business premises may mean spending money to make the property suitable for your needs. Trading the rent-free period for a contribution towards the property improvement costs could give you a tax advantage that will make the whole deal worthwhile.
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  • Incentivise your staff
    The financial downturn may mean that pay rises for your employees are not on the cards this year. But as a gesture you could offer discounts to staff and their family and friends. This can be tax-efficient and may increase your business turnover into the bargain.
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  • Tax-free gains on shares

    Investing in another company can be a risky business at the best of times. But if you think you're on to a winner, you won't want to miss out. If the venture is a success, and the company's share value increases, you may end up with a big Capital Gains Tax (CGT) bill when you sell the shares. However, there may be a way to avoid CGT altogether by making the investment through your own company.

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  • Swapping assets can save tax

    Inheritance Tax (IHT) is one of the hardest hitting taxes, but is often ignored until it's too late. You may have heard about the "seven-year rule" which can foil last minute IHT planning. But there is a way to dodge this and yet stay completely within the rules.

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Tax Breaks Directory

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