Tax and NI Savings for Advisors

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A Tips & Advice book about... 

In a nutshell

This book provides you with a powerful collection of tax and NI-saving tips that are easy to implement. It’s been fully updated to include new advice on making use of company losses, determining if incorporation is worthwhile, and saving VAT when selling second-hand goods. Written for tax advisors and accountants like you , it includes realistic scenarios so you can relate the tax-saving directly to your clients and answer their questions with confidence. This hands-on guide will help you provide your clients with an even more effective level of tax-saving advice.

In detail

As a tax advisor or accountant, your clients come to you for guidance and advice on their wide-ranging tax affairs - everything from starting a company to charitable giving. In plain English, this book covers all the main UK taxes. It shows how to make savings on corporation tax, capital gains tax, inheritance tax, VAT and NI. It’s crammed with useful tips and clearly structured for ease of use.

• Explains the legislation in simple terms
• Applies the law to realistic scenarios in context
• Provides easy-to-follow steps to implement the planning
• Gives you a series of handy tips with a clear conclusion
• Includes a collection of claims, elections, template letters and sample documents

This practical book is sure to save your clients’ tax and NI and add more value to your work.

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

All advisors that want to:

• Proactively save tax and NI for their clients
• Save time in getting to grips with all the tax and NI rules

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

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

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Table of contents

In this Tips & Advice Book you'll read about...

Part I - Business taxes

1. How to maximise corporation tax relief for bad debts

2. How to include minor children in a family company tax-efficiently

3. How to make deductions for your fees associated with HMRC enquiries

4. How to avoid s.455 tax on a director’s loan

5. How to ensure efficiency when making termination payments

6. How to use a de-grouping charge to your client’s advantage

7. How to secure capital treatment for a share buyback using a management buyout

8. How to secure protection from the corporate interest restriction rules

9. How to avoid tax charges on a transfer of assets within a group of companies

10. How to make the most of the herd basis election

11. How to use case law to avoid traps when raising finance via the EIS

12. How companies can make tax-efficient investments

13. How to split company ownership to save income tax

14. How to utilise rollover relief with a company

15. How to claim relief for a company’s pre-trading finance costs

16. How to save money with pension schemes by using salary sacrifice

17. How to achieve a tax-free “trade and asset” sale

18. How to best use company losses after 1 April 2023

19. How to determine if incorporation is still worthwhile

Part II  - CGT

1. How to close down a company tax-efficiently

2. How to avoid losing business asset disposal relief due to dilution of shareholdings

3. How to sell a company to the employees with no tax using an employee ownership trust

4. How to use rollover relief to defer capital gains tax

5. How to maximise SEIS exemption relief when making a carry back claim

6. How to secure relief for land sold under a compulsory purchase order

7. How to avoid double taxation on development land sales

8. How to reduce the CGT rate on a residential property disposal

9. How to get a tax-free lump sum by leasing residential property to a company

10. How to mimic business asset disposal relief for goodwill on incorporation

11. How to use the chattels exemption to save tax on a property sale

12. How to claim holdover relief for non-business assets

13. How to avoid a bill when exchanging joint interests in land

14. How to advise newly married clients where they each own a main residence

Part III  - Employees

1. How to take advantage of two employment allowances

2. How to get the advantages of an HMRC-approved share option scheme without actually using one

3. How to ensure the cost of medical procedures for employees qualifies as an exempt benefit

4. How to implement an all-employee share plan

5. How to make a tax-free reward for long service

6. How to provide more than one mobile phone to employees

7. How to make a tax-free cash gift to an employee

8. How to make the most of mileage rates for employees

9. How to avoid traps with employee discounts

10. How to avoid problems with trivial benefits

Part IV - IHT

1. How to use a deed of variation as an alternative to potentially unwanted attention from HMRC

2. How to avoid losing business property relief when entering into a joint venture

3. How to use a trading company to shelter residential property from tax

4. How to use trusts for tax planning in the modern age

5. How to avoid losing business property relief on retirement

6. How to avoid mistakes with IHT taper relief

7. How to stop an old incorporation increasing an IHT bill

8. How to structure lifetime gifts effectively to avoid IHT charges

9. How to use a discounted gift trust for succession planning

10. How a property business can qualify for IHT relief

11. How to use the 4% charity IHT break to save money

12. How to use quick succession relief to reduce IHT

13. How to avoid issues with excepted assets and the family company

14. How to maximise the benefit of the residence nil rate band

Part V  - Non-doms

1. How to use tax-efficient planning to help make remittances to the UK without triggering a charge

2. How to take advantage of the foreign loss election

3. How to avoid being caught by the “deemed domicile” rules

4. How to secure split year treatment when leaving the UK

Part VI  - Other individuals

1. How to avoid the pensions annual allowance taper

2. How to use interest to save tax on profit extraction

3. How to invest in tangible tax-efficient property without becoming a landlord

4. How to claim relief for loan payments made as a guarantor

5. How to avoid issues with the money purchase annual allowance

6. How to save tax on a rental property by opting out of the cash basis

7. How to use losses against personal income after incorporation

8. How to mitigate the tax when an investment bond matures

Part VII - VAT

1. How to take advantage of VAT grouping

2. How to save VAT on building work

3. How to use tax points to gain a tax advantage

4. How to save VAT using the flat rate scheme

5. How to split businesses to save VAT

6. How partially exempt businesses can take advantage of the rules to save VAT

7. How to save VAT by revoking the option to tax

8. How to save VAT on professional services

9. How to minimise problems selling to EU customers post-Brexit

10. How to benefit from using EU-based premises post-Brexit

11. How to save VAT when selling second-hand goods