Spousal Dividends: Tips and Traps
When a married couple runs a business together through a limited company, proper tax planning would dictate that both spouses own shares to receive dividends.
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News
Waiving Director’s Remuneration: Tax Issues
Being a director does not, in itself, make that individual an employee of the company. A directorship is an office, not necessarily an employment. However,
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A ‘Dive’ Into Pool Cars
The income tax legislation regarding pool cars (ITEPA 2003, s 167(3)) sets out the conditions for a car to be a pool car. These include
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The King Spoke!
Pomp and pageantry aside, the King’s Speech on 17 July 2024 marked the opening of the UK Parliamentary session for the UK Labour government. It
VAT: Electric Cars and Hybrid Cars
There are some commonly held misconceptions about the VAT breaks for businesses buying electric and hybrid cars, even by car dealers trying to sell a
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Heading for the Exit?
When starting a business, few people will give much thought to its end. However, after some years, even a small ‘oneman band’ business may have
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All is Not Lost!
Individuals (e.g., sole traders or company owners) often lend money to their business to help fund its day-to-day operations. Unfortunately, some businesses ultimately fail. Consequently,
Trusts: IHT Issues and Benefits
Trusts can be a very useful planning tool for inheritance tax (IHT) purposes, as well as family and business succession planning. Tax is only one
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When Are Director’s Remuneration and Dividends Deemed to Be Paid?
For directors, remuneration is typically assessed on an annual earnings period basis; all earnings for the tax year are considered, rather than looking at each
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Loans to Shareholders Rules: An Unexpected Twist?
HMRC does not like private companies lending money to their owner-managers, and there is a raft of provisions aimed at discouraging such debts – from
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