Category Archives: Business Owners Advice

Taxing of Distributions

You will no doubt have heard that changes to the way dividends are taxed are being introduced in April 2016 and will apply new “Dividend Rates” of income tax to distributions made to shareholders. However, you might not be aware …

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Overdrawn Director’s Loans Accounts ….

Overdrawn Director’s Loans Accounts, there appears to be some confusion over Director Loan accounts. Some directors are taking regular withdrawals out of their  company  creating a negative balance on their director loan account. Let’s say they take £5,000 per month, they …

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Company Year Ends

All Ltd companies have a defined trading year. Like many Directors you are probably thinking that it makes little difference which year end you choose. I beg to differ. Like all aspects for planning for Directors , everything that applies …

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Should My Accountant Help Me Save Tax?

Many accountants will be relieved to hear of a recent Court of Appeal ruling that general accountants are under no obligation to advise clients to enter into aggressive tax avoidance schemes. The Court of appeal overturned the previous ruling that …

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More flexible pensions with latest proposal from the Budget …

Budget 2014 proved to be something of a surprise for many in the pensions industry. The industry has been calling for pensioners‘ income flexibility and choice at retirement to be widened, however the scale of the announcements in Budget 2014 …

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Tax avoidance Shock

TACKLING MARKETED TAX AVOIDANCE – the consultation document above which was issued on 24 January 2014. There is absent a lack of an appeal process before the issue of “failure notices” and also the proposed extension of the accelerated payment …

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Sponsored Tax Avoidance by UK Government

In 1984 the Government introduced the “quoted Eurobond exemption”, this little-known regulatory loophole intended to make UK companies more attractive to foreign lenders looking to minimise their tax bills. When a UK company pays interest to an overseas lender it would …

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Premier Strategy Clients Potential Tax Liabilities

As we are only too aware many former clients of Tenon, were recommended by their accountants to make settlements into EBT’s. These clients have been left in a bit of a hiatus following the Administration of Premier Strategies Ltd – …

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Great news for EMI schemes

Following changes to the legislation for EMI schemes , any EMI options granted after 6 April 2012 may be subject to capital gains tax at only 10% on sale of the shares, i.e. at the entrepreneur’s tax relief rate, because …

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Ring a Ding Ding for Vodafone, but a Donger for the rest of us!

Why hasn’t there been more of a fuss over the absence of any UK tax payments by Vodafone on the £84bn proceeds from the sale of its 45% stake in Verizon Wireless? Well my understanding is that Vodafone does not …

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Estate Planning & Inheritance Tax

My partner is Non Domiciled – how best can I carry out Estate Planning for IHT? Trust planning is just as relevant for clients who may be a mix of UK domiciled and non-UK domiciled as the bloodline protection and …

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David Heaton is “bumped” out of HMRC after offering tips on how to keep money “out of the Chancellors grubby mitts”

David Heaton is “bumped” out of HMRC after offering tips on how to keep money “out of the Chancellors grubby mitts” David Heaton was filmed at a London conference entitled “101 ideas for Personal Tax Planning”, his tips included a …

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Financial Independence

by Ray Best. Retiring and achieving a decent lifestyle is achievable for most people if you know how … Politicians have created a boom or bust economic environment in the UK over the years, often using the housing market as …

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Employee Shareholders

What are they? They are employees engaged on special contracts who give up many of their employment rights, including those in relation to unfair dismissal and statutory redundancy payments. In exchange for being granted shares in the business valued at …

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HMRC still chasing approx. £2 Billion from Employee Benefit Trusts

Many former clients of Premier Strategies and other members Tax House inspired Employee Benefit Trust arranged are very concerned about the need to make a settlement with HMRC. Should they still be concerned? HMRC is still having trouble with reclaiming …

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Settlements for Employee Benefit Trusts (including those from Premier Tax Strategies)

PREMIER EBT’s The background to this is that Premier issued a letter to clients on 28th January 2013 inviting each client to authorise Premier to enter into negotiations with HMRC regarding potential settlements on outstanding employee benefit trust arrangements. As …

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Enterprise Investment Schemes – why it is worth considering your requirements now.

You may be thinking that there’s no need to think about EIS until January next year. But before you pack up for a well-deserved summer break, make a note to check your EIS investment needs in September. Many of you …

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I have recently been advised on Estate Planning Inheritance and have been told that I should set up a loan trust arrangement, is this my best option?

That’s a difficult question to answer without knowing your full circumstances, however I understand this is primarily promoted by life insurance companies who would like you to invest your cash into their own investment funds. Let’s look at an example …

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Director Loans

Business owners are often strapped for cash not because their businesses are unprofitable but often because having spent years building up the business they have aspirational lifestyles and want to live in a big house and to create personal wealth …

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The Swiss Tax “roll” but HMRC does not “Rock”

Tax Avoidance is OK for the really wealthy but not for hard pressed UK business owners. The incompetence and uneven approach of HMRC has been exposed once more in the Treasury’s deal with Swiss authorities. The Treasury’s attempt to tax …

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