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Tax and NI Savings for Advisors

Tax and NI Savings for Advisors

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Table of contents

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

Tax and NI Savings for Advisors

Publication date: Apr 21, 2022

For all tax advisors and accountants
Saves time and adds value to your work
Includes realistic scenarios in context
Including online service with ready-to-use documents
Free UK delivery

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