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

September 2010

  • Advance salary equals deferred tax

    If one of your employees is due a bonus or a commission payment, but not for several months yet, can you pay them early but keep the Taxman out of the loop in the meantime?

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  • Give and take company loans

    If you're a director or shareholder in more than one company, the Taxman likes to ramp up his Corporation Tax take from them by lumping together their profits. You can't avoid this but you can take the wind out of his sail a little just by making an inter-company loan.

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  • Making the kids pay their way can save tax

    If your kids stand to inherit or be given cash by generous friends and relations, you could use the money to help with the ever-increasing cost of their education - could there also be a tax advantage to this?

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  • VAT compensation payout

    When you sell something the Taxman expects his VAT cut, even if your customer sends the goods back because there are faulty and you have to refund their money. But is there a way to dodge the Taxman's grasping hands?

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  • Working late has its tax benefits

    If your company pays for you to take a taxi into work, say, because your car is in for a service, you'll get whacked with a tax bill. But where you and your staff have been burning the candle late to hit an urgent deadline and you have to take a cab home, will the Taxman take a more generous view?

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Tax Breaks Directory

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