Tax and NI Savings for Advisors
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 profit extraction, salary sacrifice, investment bonds, splitting businesses, plus tax-free "trade and asset" sales. 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.
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
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
In this Tips & Advice Book you'll read about...
Part 1 - Business taxes
How to maximise corporation tax relief for bad debts
How to include minor children in a family company tax-efficiently
How to make deductions for your fees associated with HMRC enquiries
How to avoid s.455 tax on a director’s loan
How to ensure efficiency when making termination payments
How to use a de-grouping charge to your client’s advantage
How to secure capital treatment for a share buyback using a management buyout
How to secure protection from the corporate interest restriction rules
How to avoid tax charges on a transfer of assets within a group of companies
How to make the most of the herd basis election
How to use case law to avoid traps when raising finance via the EIS
How companies can make tax-efficient investments
How to split company ownership to save income tax
How to utilise rollover relief with a company
How to claim relief for a company’s pre-trading finance costs
How to take advantage of the temporary loss relief extension
How to make the most of the super-deduction
How to save money with pension schemes by using salary sacrifice
How to achieve a tax-free “trade and asset” sale
Part 2 - CGT
How to close down a company tax-efficiently
How to avoid losing business asset disposal relief due to dilution of shareholdings
How to sell a company to the employees with no tax using an employee ownership trust
How to use rollover relief to defer capital gains tax
How to maximise SEIS exemption relief when making a carry back claim
How to secure relief for land sold under a compulsory purchase order
How to avoid double taxation on development land sales
How to reduce the CGT rate on a residential property disposal
How to get a tax-free lump sum by leasing residential property to a company
How to mimic business asset disposal relief for goodwill on incorporation
How to use the chattels exemption to save tax on a property sale
How to claim holdover relief for non-business assets
How to avoid a bill when exchanging joint interests in land
How to advise newly married clients where they each own a main residence
How a family home will be taxed following a divorce
Part 3 - Employees
How to take advantage of two employment allowances
How to get the advantages of an HMRC-approved share option scheme without actually using one
How to ensure the cost of medical procedures for employees qualifies as an exempt benefit
How to implement an all-employee share plan
How to make a tax-free reward for long service
How to provide more than one mobile phone to employees
How to make a tax-free cash gift to an employee
How to make the most of mileage rates for employees
How to avoid traps with employee discounts
How to avoid problems with trivial benefits
Part 4 - IHT
How to use a deed of variation as an alternative to potentially unwanted attention from HMRC
How to avoid losing business property relief when entering into a joint venture
How to use a trading company to shelter residential property from tax
How to use trusts for tax planning in the modern age
How to avoid losing business property relief on retirement
How to avoid mistakes with IHT taper relief
How to stop an old incorporation increasing an IHT bill
How to structure lifetime gifts effectively to avoid IHT charges
How to use a discounted gift trust for succession planning
How a property business can qualify for IHT relief
How to use the 4% charity IHT break to save money
How to use quick succession relief to reduce IHT
How to avoid issues with excepted assets and the family company
How to maximise the benefit of the residence nil rate band
Part 5 - Non-doms
How to use tax-efficient planning to help make remittances to the UK without triggering a charge
How to take advantage of the foreign loss election
How to avoid being caught by the “deemed domicile” rules
How to secure split year treatment when leaving the UK
Part 6 - Other individuals
How to avoid the pensions annual allowance taper
How to use interest to save tax on profit extraction
How to invest in tangible tax-efficient property without becoming a landlord
How to claim relief for loan payments made as a guarantor
How to avoid issues with the money purchase annual allowance
How to save tax on a rental property by opting out of the cash basis
How to advise on the effect of the NI changes on profit extraction for 2022/23
How to use losses against personal income after incorporation
How to mitigate the tax when an investment bond matures
Part 7 - VAT
How to take advantage of VAT grouping
How to save VAT on building work
How to use tax points to gain a tax advantage
How to save VAT using the flat rate scheme
How to split businesses to save VAT
How partially exempt businesses can take advantage of the rules to save VAT
How to save VAT by revoking the option to tax
How to save VAT on professional services
How to advise on VAT registration following coronavirus
How to minimise problems selling to EU customers post-Brexit
How to benefit from using EU-based premises post-Brexit
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