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

September 2018

  • Loose words cost tax

    A slip of the tongue isn’t usually that important, but a wrong word when speaking with HMRC can be more costly. What should and shouldn’t you say to the Taxman?

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  • Former spouses and tax-efficient maintenance

    Benefits in kind which a company provides to directors and their families usually come with a stiff tax bill. But what about former spouses or partners; can benefits provided to them be a tax-efficient alternative to maintenance payments?

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  • A VAT break for parents

    These days the indirect costs of educating your kids, for example a musical instrument and lessons, can be crippling. However, a little known VAT break can help reduce your expenditure. When and how can you take advantage?

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  • Sharing the annual investment allowance

    The annual investment allowance gives businesses tax relief for up to £200,000 of expenditure on equipment for the financial period in which it’s purchased. However, there’s a catch which can radically reduce this figure. How can you avoid getting caught?

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  • Tax compensation for unpaid business loans

    If, like many entrepreneurs, you’ve had to personally guarantee a loan made to your business, what’s the tax position if it can’t make the repayments and you are forced to step in?

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