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

February 2013

  • HMRC's trap for employers

    If HMRC picks up a mistake in the benefits and expenses returns - Forms P11D - you submit for your staff, it will usually ask you to pay the tax shortfall, plus interest and maybe penalties on top. But do you really have to agree to this?

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  • Reducing the cost of foreign business trips

    Did you know that for the last three years the EU has been operating a system that allows you to reclaim VAT on expenses you incur while abroad on business; how does this work?

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  • Double tax relief on your pension fund

    You'll probably have to wait until you're 55 before you can access the money in your pension fund. So when the time comes you might be tempted to simply grab all the cash on offer. But with a little planning you can instead boost the value of your fund.

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  • Income tax v Capital Gains Tax

    Even though the top rate of Capital Gains Tax was raised to 28% a couple of years ago, this is preferable to paying income tax at up to 50%. What are your options for converting income into capital gains and taking advantage of the tax rate differential?

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  • Reclaiming overcharged HMRC interest

    Computers might be pretty smart, but HMRC's seems to have a problem matching tax payments with amounts due. This often leads to incorrect demands for interest and surcharges. How can you go about reclaiming these?

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Tax Breaks Directory

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