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Category Archives: News

Tax Motivated Incorporation

TAX MOTIVATED INCORPORATION There is an inequality in the tax system that affects businesses. The owner of a business operated through a limited company who draws all of his profits in the form of a low salary and dividends will pay less in tax overall than a person operating a similar business as a self […]

The Summer Budget

THE SUMMER BUDGET   George Osbourne presented his first budget under a majority conservative government on 8th July 2015. We focus in this blog on some of the key measures that we believe will be of interest to our clients. TAX RATES AND ALLOWANCES Most of these for the 2016/17 year were announced in the […]

The 2015 Budget report

THE 2015 BUDGET   George Osborne delivered his pre election budget on 18 March 2015.  Many of his proposals are not due to take effect until 2016/17 and depending on the result of the forthcoming general election there may be a second budget in 2015 which may result in changes to some of the proposals. […]

Contractor tax planning case studies

TAX PLANNING CASE STUDIES In this blog I will look at how contractors can receive some spectacular returns by using tax planning rather than tax avoidance. Three fictitious case studies follow: 1. ERIC Eric is 61 and widowed. He has just started receiving an occupational pension of £10,000 per annum. He has savings of £50,000, […]

Chess Moves

1. e4 e5  2. Nf3 Nc6  3. Bb5  a6  4. Ba4 Nf6   The opening moves of a game of chess form the title of this blog.   Anyone who plays chess regularly will immediately recognise these particular moves as the first 4 moves of the Ruy Lopez opening.   This opening will have been […]

THE DARK SIDE OF THE MOON

Over many millions of years the rotation of the moon has been slowed down so that only one hemisphere is ever visible from the Earth the invisible hemisphere is known as the Dark Side. If you’re a contractor you may be approached by companies promoting tax planning solutions which will make you just as invisible […]

Just for the rich?

Tax avoidance schemes have been around for many years, but until about 20 years ago these were used by rich individuals and large companies to shelter very large sums (typically £1m +) from the taxman.  They were usually designed by the very large firms of accountants with the help of senior counsel and high fees […]

Auto Enrolment

The law on workplace pensions has changed.  All employers are legally required to automatically enrol certain staff into a pension scheme and make contributions.  This is “Auto Enrolment”.  But how many know what it means for them?   The Pensions Regulator has set staging dates for employers based largely on the number of employees each […]

Pension tax planning opportunities

TAX ANGLES ON PENSION CHANGES The Chancellor announced in the 2014 budget that the requirement to purchase an annuity to access pension funds was to be abolished from 6th April 2015.   This provides a number of tax planning opportunities for those over 50 who are still working, particular those over 55 with above average […]

The 2014 Budget

THE 2014 BUDGET George Osborne delivered his fifth budget on 19th March 2014. Many of his proposals will not take effect until 2015/16. 1. Personal Allowance and Tax Bands The increase in the personal allowance to £10,000 was announced in the 2013 Autumn Statement. A further increase to £10,500 will apply from 6th April 2015. […]

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