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

November 2017

  • Tax deductions for holiday lets

    Letting a home for a short term might mean it qualifies for special tax treatment, including being entitled to claim capital allowances. But are you entitled to claim them for periods when the property is empty?

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  • Can you discount your VAT bill?

    If you offer your account customers a discount for settling their bills sooner rather than later this can affect the VAT payable, but not in all situations. When can you discount the VAT as well as the price?

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  • Is shifting income to your kids really a no no?

    HMRC has tough anti-avoidance rules to prevent parents shifting income to their kids to dodge tax. How can you work within these rules and still gain a tax advantage?

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  • When is the right time to make a tax-efficient gift?

    Most tax exemptions are capped for each tax year, but the inheritance tax gifts-out-of-income exemption is different. How can you make the most of it?

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  • Cashback deals - are you taxable?

    These days cashback deals aren’t limited to mortgages. All sorts of finance companies and even manufacturers offer to reward you in hard cash to buy their products. But will you have to declare it to HMRC?

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Tax Breaks Directory

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