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68 Tax Breaks - Safe, Effective Ways to Pay Less Tax

A Tips & Advice Book about... 

In a nutshell

In this book, our experts have put together 68 of our best ever tax-saving tips. They cover all the main taxes ensuring you're able to secure tax savings with the minimum of fuss. The advice is supported by handy documents and examples so you can benefit fully.

In detail

There are many legitimate ways to pay less tax. But, like most people, you probably don't have the time or the means to get to grips with the tricky rules. That's where this book comes to the rescue! It covers 68 safe and effective ways to save tax. Set out in ten easy-to-navigate sections, it offers tips on how to put the advice into action and highlights the traps to watch out for:

  • Cars
  • Capital gains tax
  • Corporation tax
  • Expenses and benefits
  • Inheritance tax
  • Pensions
  • Profit extraction
  • Property
  • Remuneration
  • Miscellaneous

In an ever more challenging tax environment, this book is essential reading for every personal and business taxpayer seeking to cut their tax bill.

Covers Finance Act 2014

We've created this Tips & Advice book especially for... 

Individual taxpayers, company directors, in-house accountants that want to:

  • Pay the least amount of tax possible
  • Understand the tax system better and know where the loopholes are
  • • Benefit from expert tax-saving advice at a fraction of the normal cost

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 Tips & Advice book you'll read about...

Table of contents

Introduction

Section 1 - Cars

1. The classic car solution

2. Tax breaks for environmentally friendly cars

3. Accessorising your company car

4. Selling a car to your company

5. Tax deduction for privately-owned cars

6. Reclaim VAT from mileage allowances

Section 2 - Capital gains tax

7. Gift of a holiday home

8. Using capital losses against your income tax bill

9. Tax and marriage breakdowns

10. Deferring the CGT bill on shares

11. Entrepreneurs’ relief for employees

12. Company share buy-back

13. Reducing CGT on gifts

14. CGT planning with children

Section 3 - Corporation tax

15. Buying a brand

16. Carrying back trading losses

17. Different accounting and tax treatment for expenses

18. How to manage outside investment

19. Reducing a group company’s tax bill

20. Researching and developing

21. Rolling over a capital gain

22. Reducing the tax cost of selling a company

23. Tax deduction for unpaid interest

24. Overdrawn loan accounts and dividends

Section 4 - Expenses and benefits

25. Tax and NI saving for trainees

26. Tax-efficient homeworking

27. Advance expenses tax efficiently

28. Mileage allowances for contractors

29. Alternative to the office party

30. Income protection insurance

31. Personal use of company assets

Section 5 - Inheritance tax

32. Double your business property relief

33. Giving away property

34. A DIY IHT loan plan

35. Loan and discounted gift schemes

Section 6 - Miscellaneous

36. Tax back on personal gifts

37. Avoiding the loan note trap

38. A trust for school fees

39. Making a profit from gift aid

40. EIS carry-back

41. Higher tax rate avoidance

42. Shift income without shifting the asset

Section 7 - Pensions

43. Maximise pension contribution limits

44. Save tax by deferring your state pension

45. Arrears of pension contributions

46. Transferring property as pension premiums

47. Transferring assets to your pension fund

48. Using your company as your pension fund

Section 8 - Profit extraction

49. Tax-free benefits - as long as you’re not close family

50. Spouse’s pension

51. Making use of personal losses in a company

52. Repaying share capital

53. Protecting your director’s loan account from NI

54. Phased share buy-backs

Section 9 - Property

55. Extending tax relief on property loans

56. Tax-efficient allocation of property income

57. Getting property out of your company

58. Using property rental losses

59. Tax relief on capital expenses

Section 10 - Remuneration

60. Maximising the tax-free savings from a company loan

61. Keep your tax rate down to 10%

62. Tax relief for your personal helper

63. Deferring tax on your bonus

64. Dividend waiver

65. Shifting assets to save tax

66. Taking frequent dividends

67. Justification for spouse’s salary

68. Salary sacrifice for tax-free subsistence

Section 11 - Appendices

Weblinks

Selling a car to your company

Gift of a holiday home

CGT planning with children

Tax and NI saving for trainees

Mileage allowances for contractors

A DIY IHT loan plan

Making a profit from gift aid

EIS carry-back

Transferring assets to your pension fund

Using your company as your pension fund

Repaying share capital

Salary sacrifice for tax-free subsistence

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