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3 PDFs to cut your tax bill

3 PDFs to cut your tax bill

A 40% saving on the package!

Maximising Your Pension Fund (PDf)
Research and Development Tax Credits (PDF)
Directors' Loan Accounts - Making the Tax Rules Work for You (PDF)

What is it?
Who's it for?
Extras
Table of contents
Digital/Paper

A Tips & Advice Special Report about...

In a nutshell

This Special Report helps you maximise the value of your pension fund. It covers the latest pension rules including pension annual allowance tapering and how they affect your pension scheme. It also offers a host of ideas to get the most out of your pension savings. Whatever your situation, this Special Report ensures your efforts to build up your pension fund are properly rewarded through effective tax planning.

In detail

With so many changes to the pension rules over recent years, it’s difficult to keep up. This Special Report brings you quickly up to speed and answers important questions such as:

Which different types of pension exist?
How do you make cost-effective pension contributions?
What are the options to withdraw money from your fund tax-efficiently?
What are effective tax planning strategies?

This Special Report, crammed with useful advice, will help you keep more money in your retirement pocket and out of HMRC’s.

We've created this Tips & Advice Special Report especially for...

Business owners, company directors and anyone with a pension that wants to:

Know which pension schemes work best in their situation
Build up a pension fund in a safe and tax-effective way
Get the most from future pension savings

Financial advisors and accountants that want to:

Be aware of all the complicated pension rules scheme for their clients

You'll get the following free extras with this Tips & Advice Special Report...

An online service with ready-to-use documents

To immediately apply our advice and solutions in practice
That you can easily adapt to suit your own requirements

In this Tips & Advice Special Report you'll read about...

Table of contents

Introduction

1. Pensions - where are we now?

1.1. Pensions reform

1.2. What are the different types of pension plan?

2. Pension schemes

2.1. Different schemes

2.2. Self-invested personal pensions (SIPPs)

2.3. Small self-administered schemes (SSAS)

2.4. Executive pension plans (EPPs)

3. Making pension contributions

3.1. Claiming tax relief on pension contributions by individuals

3.2. Pension input periods (PIPs) and carry-forward

3.3. Contributing to retirement annuity contracts

3.4. Timing of employer pension contributions

4. Tax planning

4.1. In-specie pension contributions

4.2. Salary sacrifice schemes

4.3. Recycling tax-free cash

4.4. Pension income recycling

4.5. Payment options on death

4.6. Retirement annuity contracts (Section 226) and inheritance tax

5. Taking your pension

5.1. What are my options for taking money from my pension funds?

5.2. Small pot pension payments

5.3. Uncrystallised fund pension lump sums

5.4. Flexi-access drawdown

5.5. Pension commencement lump sums (tax-free cash)

5.6. Annuities

6. Appendices

6.1. Appendix A - flow chart

6.2. Appendix B - tax treatment of death benefits

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What is it?
Who's it for?
Table of contents
Digital/Paper

A PDF Report about...

In a nutshell

Take maximum advantage of the research & development (R&D) allowances with this Special Report. It explains how the credits and allowances work and how to benefit from them in practice. Our handy advice will help you save money - so that your R&D investments don't go unrewarded. This new edition has been fully updated and includes information on the changes coming in April 2023.

In detail

The R&D allowances are without doubt the most generous of tax incentives. But the rules are very complex meaning that this tax break often goes begging. This Special Report takes the mystery out of R&D allowances - it explains:

What R&D tax credits are
The amount of tax relief involved
The criteria to qualify for R&D tax relief
- Which R&D projects qualify?
- What types of expenditure qualify?
Making an R&D claim
Limits to R&D relief

Written in plain English and illustrated with practical examples, this Special Report shows just how much you can save. It's a must-read for every company that invests in developing new ideas.

We've created this PDF Report especially for...

Company directors and all business that are considering R&D work that want to:

Take maximum advantage of R&D allowances

Tax advisors and accountants that want to:

Advise their clients on using R&D allowances tax-efficiently

In this PDF Report you'll read about...

What are R&D tax credits?

What is an SME for R&D tax credit purposes?

What changes have been made to R&D relief?

How much tax relief do we get?

What counts as a qualifying R&D project?

What expenditure qualifies for R&D relief?

Grants and subsidies

How to make an R&D claim - SMEs

Can pre-trading expenditure qualify for R&D?

Limits on relief

Advance Assurance

Tax relief for R&D capital equipment

Further sources of information

You can choose from the following options...

Digital

The PDF-version
Delivered to your inbox

What is it?
Who's it for?
Extras
Table of contents
Digital/Paper

A Tips & Advice Special Report about...

In a nutshell

This Special Report provides you with ready-to-apply solutions to deal with the tricky loan account rules. It explains how to manage loan account transactions in the most tax-efficient ways.

In detail

In plain English, this Special Report covers:

Loan-related tax charges
- What the different tax charges are
- When the s.455 charge applies to companies
- When the benefit in kind charge applies to directors
- What "conferring a benefit" on a participator means
Reporting to HMRC
- When you need to tell HMRC about the loan
- How to report loan account transactions
- How to account for s.455 tax
Avoiding the tax charges
- How and when to repay or clear a loan
- What the repayment options are
Optimising your tax-planning strategy

Transactions between directors and their companies have always been a prime target for HMRC, and the rules have become increasingly complicated, making tax charges difficult to avoid. This Special Report offers you a series of legitimate ways to avoid tax. It's outstanding value for money.

We've created this Tips & Advice Special Report especially for...

Company directors that want to:

Manage their loan account transactions in a tax-efficient way

Tax advisors and accountants that want to:

Determine the best tax-saving strategy for their clients

You'll get the following free extras with this Tips & Advice Special Report...

An online service with ready-to-use documents

To immediately apply our advice and solutions in practice
That you can easily adapt to suit your own requirements

In this Tips & Advice Special Report you'll read about...

1. Introduction

1.1. What is a director’s loan account?

1.2. Why is HMRC interested?

2. Loan-related tax charges applying to companies

2.1. Why are there special rules for directors’ and shareholders’ loans?

2.2. Who does the tax charge apply to?

2.3. What is HMRC’s view of directors’ loans?

3. Loans from close companies

3.1. What counts as a loan?

3.2. What doesn’t count as a loan?

3.3. How are trading transactions between a participator and their company treated?

3.4. Are there exemptions for small loans?

3.5. What if the close company’s business includes making loans?

3.6. Are indirect loans caught?

3.7. What about loans to partnerships and trusts?

3.8. When do the rules for loans to partnerships apply?

4. Tax charge on loans to participators (s.455 charge)

4.1. When does the charge apply?

4.2. Will HMRC refund s.455 tax?

4.3. How much is the charge?

4.4. When is the tax due?

4.5. What is bed and breakfasting?

4.6. How does the 30-day rule work?

4.7. Can the 30-day rule be avoided?

4.8. What is the “intentions and arrangements” rule?

4.9. How are repayments and withdrawals matched for the purposes of these rules?

4.10. What happens if the loan is repaid after s.455 tax has been paid?

4.11. How is the s.455 tax reclaimed?

4.12. How is the relief given?

5. Reporting to HMRC and accounting for s.455 tax

5.1. Do I need to tell HMRC about the loan?

5.2. Loan repaid before the end of accounting period in which it is made

5.3. Loan repaid after the end of the accounting period but before due date for corporation tax

5.4. Loan outstanding nine months and one day after end of accounting period

5.5. How are details of the loan reported?

6. Benefit in kind charge on outstanding loan

6.1. What is the benefit in kind charge?

6.2. What if the participator is not an employee?

6.3. What about NI?

6.4. Which loans are exempt?

6.5. Are there any other exemptions?

6.6. What details need to be reported?

6.7. How is the tax collected?

6.8. When is the Class 1A NI payable?

7. Repaying or clearing the loan

7.1. How can a director’s loan be repaid?

7.2. What’s the position when introducing funds into the company to clear the loan?

7.3. What’s the tax position on declaring a dividend to clear a director’s loan?

7.4. What’s the tax position on dividends for basic rate taxpayers?

7.5. How does the dividend allowance apply for higher and additional rate taxpayers?

7.6. What’s the position of clearing a director’s loan using salary?

7.7. What’s the tax position of paying a bonus to repay a director’s loan?

7.8. What’s the tax position when a director’s loan is written off?

7.9. How does clearing a loan affect the s.455 charge?

8. Arrangements “conferring a benefit” on a participator

8.1. What are the “conferring a benefit” rules?

8.2. What is conferring a benefit?

8.3. How much is the tax charge and when is it payable?

8.4. Can the charge be avoided?

9. Tax planning

9.1. Cheap source of short finance

9.2. How can cheap borrowing from your company be maximised?

9.3. To repay or not to repay?

9.4. Clearing the loan by dividend - a good idea or not?

9.5. Clear by salary or bonus

10. Tax terms that apply to company loans

10.1. What is a close company?

10.2. Who is a participator?

10.3. Who counts as a loan creditor?

10.4. Who is a director for these purposes?

10.5. Who is an associate?

10.6. What does “control” mean?

11. Appendix

11.1. Legislation

11.2. Original legislation

11.3. Legislation for the new rules (30-day rule etc.)

11.4. HMRC toolkit

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