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

February 2011

  • Company freebies

    Getting your company to pay for some work on your home, say in your garden, will land you with a personal tax bill. But with some negotiation and creative accounting you might be able to prune a little off this.

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  • Maximising your exemption

    You might think that making a capital gain is never a bad thing, but you’d be wrong. If you’ve made some losses in the same year, it might cost you your Capital Gains Tax annual exemption. But with some planning it’s easy to avoid this disaster.

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  • The NI get-out clause

    You can expect to get a tax deduction for pension contributions you pay as long as they are within the Taxman’s limits. But, if you know how, you can also make use of an NI dodge.

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  • Making (tax-free) allowances for letting

    Letting a room in your home for a while to a lodger or foreign student might be a nice little earner. But what can you do to stop the Taxman from taking a bite out of it?

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  • Profiting from a group loss

    Where you own more than one company and one makes a loss while the other a profit, you can group them together to cut the overall Corporation Tax bill. But the trick is choosing the right time to do it.

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Tax Breaks Directory

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