The tax burden is about to get a lot worse for director / shareholders from 5 April 2023 onwards, so here we share some proactive tax planning ideas
Don't be tempted to settle your personal tax self assessment bill due to HMRC from your own company's bank account.
Directors loan accounts that are in credit provide a valuable tax planning opportunity, especially at a time of rising interest and corporation tax rates
Many entrepreneurs are surprised when they see their child benefit being clawed back via Self Assessment -if only they could plan for it...
Although HMRC made a late change to waive the £100 penalty on late Self Assessment returns filed after 31 Jan, that's where the charity ended with no respite for due payments or enquiries
So you have made an investment into an SEIS company but you don't want to claim (all of) the income tax relief in the latest tax year - how do you carry it back?
The 31 January filing and payment deadline for personal tax self assessment returns had not changed despite the COVID-19 pandemic - let's have a grumble...[Update: HMRC introduced a relaxation to the 28 Feb 2021 for filing of returns, shortly after this post went live]
