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

May 2011

  • A tax-free allowance for storing your car

    Usually, you'll have to pay tax and NI on money you receive from your business for garaging your company car, but there is one situation where you can escape this.

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  • A truly tax-saving idea

    Putting an employee's suggestion to use in your business could save you money. But did you know it could also cut your PAYE bill. How can you take advantage of this tax break?

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  • Corporation Tax that you can defer

    Capital gains made by your company are simply treated as part of its profits and so will increase the Corporation Tax it must pay. But reinvesting the gain might offer the chance to defer part of the tax bill.

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  • Making an IHT-free gift of your business

    You can pass your business on to your kids in the knowledge that the Taxman can't touch you for Inheritance Tax. But if your children aren't so keen to carry it on, this exemption could be lost. How can you guard against this?  

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Tax Breaks Directory

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