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    Directors - dodging the benefit in kind tax

    Your bookkeeper has given you your P11D for approval. Where the company paid a few of your personal bills they show as benefits. You asked the bookkeeper to debit your loan account to cancel...

    Should you or your company pay your nanny?

    You want to employ a nanny. Normally this would mean registering with HMRC as an employer, with all that this entails. Could you instead add them to your company’s payroll? If so, what would...

    Pay a dividend now to defer and reduce last year’s tax

    Your accountant is finishing work on your company’s accounts. He suggests paying a dividend to cover payments your company made last tax year which will otherwise be taxed as benefits in kind....

    Avoiding the “salary” label

    It’s common for inspectors to argue that where a director uses the company account to pay a personal bill, it counts as salary. How can you disprove this argument and save money in the process?

    Accountants’ fees and directors’ tax returns

    Accountants will usually charge you personally for completing your tax return according to the time spent. But what’s the tax position if the charge is wrapped up in the fee for preparing your company’s...

    How to turn a yacht into a legitimate business expense

    In a 2014 case a management training business was permitted to write off the cost of an ocean-going yacht against corporation tax without the directors incurring a benefit-in-kind charge. Could...

    Are company-paid-for personal bills taxable?

    Your company paid a few of your personal bills last month. Your bookkeeper says HMRC rules clearly say the payments are taxable benefits. But can’t you just pay the money back when you can...