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

June 2012

  • Making sure you're covered for investigation costs

    Insurance terms and conditions can be tricky; one false move and you might not be covered, and policies to meet the cost of extra accountancy fees resulting from a tax investigation are no different. However, if you take the right precautions when filling in your tax return, you shouldn't have any trouble.

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  • Shifting the cost of VAT

    Where you run more than one business and they share overheads, allocating these costs between the companies might lead to a VAT charge. But the good news is there's a fairly simple way to avoid this.

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  • Tax relief for learning the business

    Where an employee trains to obtain a qualification linked to their job, they usually won't get a tax deduction for their course fees. But tax relief is allowed where you, as their employer, pick up the bill. Can you use this loophole to provide a tax-efficient perk?

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  • IHT relief for when property prices slump

    Selling a house as an executor of someone's estate in a falling market can lead you straight into a trap in the form over an over-the-top Inheritance Tax bill. What can you do to set the record straight and reduce the tax payable?

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  • A summer break from tax

    It's well known that employers can use a tax break to exempt Christmas parties from a benefit-in-kind charge. But did you know the same exemption can apply to a summer outing?

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Tax Breaks Directory

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