Do you know the tax benefits of setting up a Family Investment Company LLP? Find out how it can benefit your business. (6-minute read) We will cover: The tax treatment of FICs and LLPs How a hybrid structure can benefit you and your family Family Investment Company vs LLP Tax A Family Investment Company (FIC)… Read more »
Posts Tagged: Interest Rates
Slash Your Tax Bill With Your Furnished Holiday Let: Start Saving Today!
In this week’s Tax Tip, we’ll provide you with some important information about your Furnished Holiday Let (FHL) that could slash your tax bill. (3-minute read) We will cover: The potential tax advantages of owning a Furnished Holiday Let The requirements for a business to qualify as an FHL Furnished Holiday Letting (FHL) FHL is… Read more »
Family Investment Company vs Trust
A Family Investment Company vs Trust is a practical consideration when choosing the best way to manage family wealth and assets in the UK. While both structures offer benefits and drawbacks, choosing between them requires careful consideration and understanding of their key features. In this guide, we’ll explore the differences between FICs and trusts including… Read more »
Transfer Shares to Spouse
If you’re a business owner in the UK, you may be wanting to transfer shares to your spouse. Our article provides a brief overview on the tax implications of gifting shares, so you can decide whether it benefits you. (5-minute read) We will cover: The tax implications of gifting shares to your spouse/civil partner The… Read more »
Spring Budget 2023 Summary
In this article, we provide a summary of the Spring Budget 2023 for the UK. (8-minute read) We will cover: A summary of the most important changes in the UK Spring Budget 2023 How these affect you and your business CORPORATION TAXES • Corporation tax rate to increase to 25% as previously announced • R&D… Read more »
Being VAT Registered Is Killing My Business
9 Creative Ways to Slash Your VAT Expenses Is being VAT registered killing your business? Read on to find how you can make your business grow and avoid hefty VAT bills. (5-minute read) We will cover: The pros and cons of being VAT registered Easy ways to reduce your VAT bill The Reality: Being VAT… Read more »
End of Tax Year 2023 (2022/23) Planning Tips
With 2022/23 tax year almost over, it’s time to review the best tax-saving strategies. This comprehensive guide will help you make the most of the end of tax year 2023, and to keep these strategies in mind to enter 2023/24. (12-minute read) We will cover: Tax-efficient tips that cover different types of tax Practical steps… Read more »
How to appeal a tax penalty
This text guides on how to appeal a tax penalty in the UK, and includes specific information on different types of tax penalties. (3-minute read) We will cover: The step-by-step process of appealing a late tax penalty Different methods of appeal for different taxes The general process What are the steps to appealing a tax… Read more »
Wholly and exclusively: Are accommodation costs tax-deductible?
Travelling on business can be tax-deductible, including accommodation costs. By being aware of the rules, you can make the most out of your business expenses. Find out how the ‘wholly and exclusively’ rule applies to accommodation costs! (4-minute read) We will cover: All about the ‘wholly and exclusively’ rule for business expenses How you can… Read more »
Paying Tax On Dividends VS Bonuses
If you’re a company director, you may think the most tax-efficient way to take money out of your company is through dividends. But as of 2022-23, and moving forward to the 2023-24 tax year, bonuses could be more tax-efficient. Why? (3-minute read) We will cover: Legislation around paying tax on dividends Tax-efficiency between paying yourself… Read more »
