Here’s a question for you: do you like bacon? Even if you don’t, would you be able to ‘bring home the bacon’ to pay your family bills if you couldn’t work? The average UK employee has enough savings to keep the household for 32 days, if they stopped earning.
QUESTION: What does my business have to do to qualify for Research & Development tax relief and how is this tax relief given? ANSWER: The Government’s Research & Development tax relief incentive allows companies to claim additional tax savings on the research costs they incur.
QUESTION: What is the new “loan charge” legislation being brought in from April 2019? ANSWER: Over the past 20 years an industry has developed in the avoidance of PAYE and national insurance contributions.
QUESTION: Our first child was born recently and I have received information in relation to childcare vouchers and I note a new scheme, Tax Free Childcare, has commenced, but I can still register for the old scheme.
QUESTION: Should I pay myself a dividend from my family company or am I better paying myself a salary? ANSWER: As a shareholder in a company it is possible to take advantage of a number of tax planning opportunities which are not available to other business structures.