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KRW Tax Tips

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.

07 November 2016

How to mitigate Inheritance Tax on a holiday home

on Monday, 07 November 2016.

Owning a holiday home to use in your retirement is very popular, but when combined with the family home, your estate may well exceed the Inheritance Tax threshold.

In this month’s Tax Tip we take a look at ways to gift all or part of the property to your children during your lifetime to reduce the potential Inheritance Tax hit.

28 September 2016

Don't miss out on Research & Development relief

on Wednesday, 28 September 2016.

Research & Development relief provides favourable tax relief for expenditure linked to research and development of new products or processes.

In this month’s Tax Tip we take a look at this valuable relief which allows enhanced tax relief on certain qualifying expenditure.
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