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50 Tips to Slash Your Company's Tax Bill

A Handy Guide about... 

In a nutshell

This book will help cut your company's tax bill. It contains 50 legitimate tips to ensure that your company pays less tax. Each one comes with a detailed example and an action plan that shows the best way to implement the advice and make the saving.

In detail

Our highly experienced team of tax experts has compiled a stack of ready-to-use tips and realistic strategies for your company. They're split across six broad topics:

  1. Year-end tax planning for companies
  2. Maximising expenses to reduce taxable profits
  3. Maximising tax relief on asset purchase
  4. Remuneration strategies to reduce your company's tax bill
  5. Making the best use of losses
  6. Tax saving with groups

Getting your company into profit and keeping it there can be a real challenge. But with a little careful planning there's much you can do to save on the inevitable tax bill. With this book you'll be able to take advantage of every available loophole and pay the minimum amount of tax legally possible.

We've created this Handy Guide especially for... 

Company owners and directors, financial controllers and accountants that want to:

  • Pay the least amount of tax possible
  • Devise a suitable tax-planning strategy

Tax advisors that want to:

  • Provide their clients with the best possible tax-saving service

You'll get the following free extras with this Handy Guide... 

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 Handy Guide you'll read about...

Table of contents


Section 1 - Year-end tax planning for companies

Tip 1. Carry out a pre year-end review

Tip 2. How to time sales of goods or services to fall into a later accounting period

Tip 3. When to extend your accounting period to cut your tax bill

Tip 4. When to shorten your accounting period to cut your tax bill

Tip 5. Avoid paying corporation tax by instalments

Tip 6. How to cut your tax rate on income from intellectual property

Section 2 - How to maximise expenses to reduce your taxable profits

Tip 7. Maximise tax relief for bad debts

Tip 8. Make sure your stock isn’t over valued

Tip 9. How to get tax relief for a provision

Tip 10. Accelerate bonuses

Tip 11. Make additional pension contributions

Tip 12. Pay extra contributions to employees’ or directors’ personal pension schemes

Tip 13. The most tax-effective way to make donations to charity

Tip 14. Take advantage of the SME research and development tax credit scheme

Tip 15. Consider claiming R&D expenditure credits for large companies

Tip 16. Claim relief for remediation of contaminated or derelict land

Tip 17. Make a claim for pre-trading expenses

Tip 18. Make a claim for your lunch costs

Tip 19. Claim the cost of staff entertainment

Section 3 - How to maximise tax relief on asset purchases

Tip 20. How to maximise the 100% deduction for your equipment purchases

Tip 21. How to claim a 100% tax deduction for integral features

Tip 22. How to avoid the capital allowance cuts expected from January 2016

Tip 23. How to get tax relief on your asset purchases before you’ve spent the money

Tip 24. How to get a 100% tax deduction for a new car

Tip 25. Another way to get a 100% tax deduction for a “car”

Tip 26. Make use of the 100% tax deduction for new energy-saving equipment

Tip 27. Make use of the 100% tax deduction for new water-efficient equipment

Tip 28. Claim 100% capital allowances on R&D capital expenditure

Tip 29. Claim 100% capital allowances on plant and machinery in enterprise zones

Tip 30. Claim business premises renovation allowances

Tip 31. Speed up tax relief by de-pooling

Tip 32. Claim capital allowances even if you won’t get immediate tax relief for them

Tip 33. Make sure your company has claimed tax relief for fixtures acquired as part of a property

Section 4 - Remuneration strategies to reduce your company tax bill

Tip 34. Dividend or salary?

Tip 35. When is it preferable to take a salary?

Tip 36. Employ your partner

Tip 37. Avoid tax on loans or benefits to participators

Tip 38. Retain profits within the company instead of extracting them

Section 5 - Making the best use of losses

Tip 39. How to get immediate tax relief for losses

Tip 40. How to get the tax back sooner on your losses

Tip 41. How to make a provisional loss claim

Tip 42. How to make the most of losses when you cease trading

Tip 43. Sell assets at the right time

Tip 44. Make a negligible value claim

Tip 45. How to get cash back on equipment purchases

Section 6 - Tax saving with groups

Tip 46. Reorganise the companies into a 75% group to make use of group losses

Tip 47. How to get relief for a capital loss when there’s no capital gain

Tip 48. Make use of group rollover relief

Tip 49. Should a new trade be set up in, or outside, the company?

Tip 50. How to sell shares in another company without a capital gain

Section 7 - Appendices

A1. Sale of goods on consignment agreement

A2. Change of accounting reference date board minute

B1. Voting a bonus board minute

B2. Key questions to consider when claiming R&D expenditure

C1. Short-life asset election

C2. Capital allowances election

D1. Voting an interim dividend board minute

D2. Written resolution to approve final dividend

D3. Dividend voucher

D4. Examples of partner’s possible job description

E1. Carry back of loss claim letter

E2. Negligible value claim

F1. Group relief consent letter

F2. Transfer of joint asset election Under TCGA 1992 s 171A (Election to reallocate gain or loss to another member of the group)

F3. Provisional rollover relief claim

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