Tax

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A RESOLUTION THAT ADDS UP!

1st February 2018
Taking control of our personal finances is a resolution that is definitely worth keeping this year. Kenny Logan provides you with 10 top tips on how to make more of your money, all it will cost you is a bit of time and effort. If you resolved to get fit, learn a new skill, quit...

TAX ON DIRECTORS SALARY, DIVIDENDS AND PERKS

3rd October 2017
If you are the Director of a company, you will know that the taxation of dividends and benefits in kind has changed quite significantly in recent times. So, if you are considering taking more income from your company, which option should you choose for maximum tax efficiency? But before we do that, let’s look at...

TAKING THE PAIN OUT OF GAIN

2nd October 2017
You should of course seek to minimise the amount of Capital Gains Tax that you pay when you sell a property, tax specialist Steven Turnbull takes a closer look at how to achieve this. Capital Gains Tax (CGT) becomes payable when you sell an asset such as a business, a second property, shares or an...

LANDLORDS BE PREPARED!

18th July 2017
In this article, Steven Turnbull examines the impact of HMRC’s Making Tax Digital on Landlords in particular and encourages those of you to be prepared! Making Tax Digital is HMRC’s project to transform the tax system and is famously associated with the claim that we will see the end of the annual tax return. However,...

GOOD COMPANY

27th June 2017
If you are an employer who provides a company car to your employees, we thought it would be interesting to quantify the actual Class 1A NIC cost to you. Kevin Ferguson takes a closer look. Businesses that choose to provide their employees with taxable benefits such as company cars, health insurance and so on, will...

GOOD TIMING

1st June 2017
When it comes to making gifts, timing is the difference between paying Inheritance Tax or not. Making gifts, especially if they are sizeable, usually reduces the potential Inheritance Tax bill on your estate as long as you survive seven years. But there are some rules that can mean that this won’t always be achieved. Kenny...

RE-MORTGAGING FOR THE SELF EMPLOYED

1st May 2017
Re-mortgaging is not so straightforward for the self-employed, Kenny Logan takes a closer look.     The rising trend for self-employment now equates to more than 10 per cent of the employed population in the UK. Given the fact that there are now 4.6 million self-employed people in the country, you might think that lenders would...

NI U-TURN BUT CUT TO DIVIDEND ALLOWANCE WILL STILL GO AHEAD

23rd March 2017
As you will be aware, the proposed increase in National Insurance paid by the self-employed has now been shelved. Whilst this U-Turn is to be welcomed, the announced reduction in the tax-free dividend allowance will affect those who run their own companies, Julie Robertson takes a closer look. The Chancellor had announced in the Budget...

PAYING DIVIDENDS?

10th March 2017
It can’t have escaped your notice that business owners who pay themselves dividends on top of a small salary are being hit hard by the Budget. If you are in receipt of dividend income in excess of £2,000 the reduction in dividend tax allowance will mean that you will be facing higher tax bills. The...

SALARY V DIVIDEND

27th February 2017
The questions surrounding the issue of how best to extract profits from a company in a tax-efficient manner remain as popular as ever, in fact something we advise on often. Despite the introduction of the dividend allowance, and the personal savings allowance, extraction by remuneration (salaries) and by way of dividend remain the two most...