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

January 2010

  • Having your IHT cake and eating it
    Passing some of your wealth onto the next generation is one of the basic strategies for saving Inheritance Tax. That can mean giving away income-producing assets. But the Taxman doesn't make this easy by throwing Capital Gains and income tax problems in the way. How can you dodge these?
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  • Get on course for a tax deduction
    The rules for directors and employees for claiming tax deductions on training courses can be tricky and a claim won't always qualify. But the good news is that there's a way you can guarantee tax relief.
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  • Put the brakes on paying the VATman
    If you buy something for your business, say a computer, that you also use for private purposes the VATman will expect you to restrict the amount of VAT you reclaim on the cost. But there's an alternative that can give you a real cash flow advantage.
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  • Higher salary can mean less tax
    There's nothing new about the idea of paying your spouse from the business to save tax, and potentially the more you pay the more you can save. But the Taxman is alive to this and can ask you to justify the salary. Here's a way to keep him happy.
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  • A cheap loan can be a real tax-free benefit
    Loans are hard to get these days, so if you or one of your employees need cash you could instead get the company to provide the money temporarily. But free or low interest company loans can attract the Taxman's attention resulting in tax and National Insurance charges. So, is there a way to avoid this trap and still get a tax-free benefit?
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Tax Breaks Directory

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