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KRW Tax Tips

02 August 2017

How to fund private school fees tax efficiently

on Wednesday, 02 August 2017.

Business owners who are paying private school fees for their children’s education often ask if there is a more tax efficient way of structuring their affairs to meet this cost.

In this month’s Tax Tip we consider the circumstances in which minor children could hold company shares (directly or via a Trust) and use dividend income to pay these fees.

28 June 2017

Drawing salaries from multiple companies

on Wednesday, 28 June 2017.

With the advent of dividend tax, drawing more than one salary is often advantageous as an alternative to dividends, even if this triggers some personal tax.

In this month’s Tax Tip we look at the tax savings available by taking salaries from multiple companies, and the pitfalls to watch out for.

28 April 2017

Relevant life insurance as a tax-free benefit

on Friday, 28 April 2017.

Employer funded relevant life insurance can provide a useful tax-free benefit for company owners, with the company usually also able to save tax on the premiums.

In this month’s Tax Tip we look at the possible tax savings available with relevant life insurance, as compared to normal life cover, and how you can benefit.

28 February 2017

Making best use of benchmark subsistence allowances

on Tuesday, 28 February 2017.

If you pay your employees (or Directors) subsistence payments, the rules have always been a bit of a minefield where such payments are not supported by receipts.

In this month’s Tax Tip we re-cap the benchmark allowance rates and take a look at the revised conditions for making these payments without attracting tax or NIC.

01 February 2017

Making the most of the trivial benefits rules

on Wednesday, 01 February 2017.

New rules relating to the tax treatment of providing trivial benefits to employees came into force from April 2016, with most trivial benefits being exempt from tax.

In this month’s Tax Tip we take a look at what constitutes a trivial benefit and how you can make best use of the rules for both employees and Directors.

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The Mill, Pury Hill Business Park
Alderton Road, Towcester
Northants, NN12 7LS

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