We are often asked to advise on remuneration for a Director of a Limited Company. This is a complex area which can be different for everyone, but one area where clients need to be careful is how they take money out of the Company. In practice the actual cash that they receive will be a
A recurring theme from clients is that they don’t want to pay any tax. Unfortunately for most people this is not an option if they have a business is making money. Even Starbucks and Amazon pay some tax, though they tend to choose in which country they pay it, and are big enough to make
A lot of clients do not realise that HMRC do not create the tax laws. Parliament lays down the law in thousands of pages of tax legislation, written in a version of English only known to the people who write them and Tax experts. HMRC then interpret that legislation and write guides on their websites
Following on from the blog article on the new more flexible tax rules on Private Pension Contribuitions here is how it will work in practice for a typical client. Remember we cannot give financial advice but can only advise on the tax advantages of pensions. The rules are extremely complex and Independent Finacial Advice should
We speak to a lot of small business owners and the suggestion of pension contributions is often derided. However recent changes to the tax treatment of private pension contributions make pension contributions an essential tool in the armoury of getting money out of a small business. In the past the perception was that pension contributions
This week we have been dealing with an enquiry from HMRC into one of our clients. They did not advise us of a PAYE job that they had taken on in addition to their business and subsequently had additional tax and a penalty to pay. There are a few lessons to learn from this. 1) Clients
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