Personal Tax
Tax Planning to Reduce Your Personal Tax Bill (from April 2023)
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
Personal Tax
Don't pay your personal tax bill out of your company bank account
Don't be tempted to settle your personal tax self assessment bill due to HMRC from your own company's bank account.
Personal Tax
Become Your Company's Own Private Bank
Directors loan accounts that are in credit provide a valuable tax planning opportunity, especially at a time of rising interest and corporation tax rates
Self Assessment
High Income Child Benefit Charge: Tax Planning to Mitigate the Impact
Many entrepreneurs are surprised when they see their child benefit being clawed back via Self Assessment -if only they could plan for it...
Self Assessment
Self Assessment: Extension but with Restrictions
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
SEIS / EIS
SEIS: How to claim income tax relief in the prior tax year
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?
Personal Tax
31 January Self Assessment Tax Filing Deadline - HMRC changes
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]