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31 August 2018

Avoid additional 3% stamp duty by buying a second property in a trust

on Friday, 31 August 2018.

The additional 3% surcharge rate of stamp duty land tax that applies on the purchase of a second property is notoriously hard to avoid.

In this month’s Tax Tip we look at how purchasing a buy to let property via a Trust can be effective in avoiding the 3% stamp duty surcharge in certain circumstances.

10 July 2018

Claiming the transferable marriage allowance

on Tuesday, 10 July 2018.

The transferrable marriage allowance arrived in 2015 but was widely considered to be a bit of a damp squib as very few couples could claim it and a separate claim needed to be made.

In this month’s Tax Tip we look at who can use this relief, and consider recent changes to how it operates in practice.

07 June 2018

Company cars for the kids

on Thursday, 07 June 2018.

With company car tax based on CO2 emissions and the list price when new, company cars are rarely tax efficient for company owners, usually due to the type of cars they want to drive!

In this month’s Tax Tip we consider the tax implications of providing low emission company cars to your kids, which can offer some great tax savings, especially in relation to insurance.

01 May 2018

2018/19 is the final year for paying voluntary Class 2 NICs

on Tuesday, 01 May 2018.

Under current rules, self-employed taxpayers making low profits (below £6,205 pa for 2018/19) are exempt from paying Class 2 National Insurance but can choose to pay it voluntarily.

In this month’s Tax Tip we look at the benefits of paying Class 2 NIC voluntarily in 2018/19, which won’t be possible when Class 2 NIC is abolished in April 2019.

01 March 2018

The tax advantages of holding shares in a holding company

on Thursday, 01 March 2018.

There are many reasons to consider holding the shares in your trading company through a separate holding company, the main one being to safeguard retained profits.

In this month’s Tax Tip we look at the Substantial Shareholding Exemption (SSE) and how a holding company can sell the shares in a trading company tax-free.
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