One of your employees has been working for you for quite a few years and you would like to acknowledge their loyalty. Is there a way to reward them with a tax-free gift or bonus?
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A colleague has approached you to invest/take shares in his new company. You could take cash out of your company to invest, but that would land you with extra income tax. Is there another way for
your company to invest directly?
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A rap across the knuckles.. Extreme case. The case of “It’s a Wrap” relates to a claim by a liquidator for the repayment of dividends which had been paid to a shareholder at a time when the company
had no distributable profits. The dividends had been paid because the director/shareholder thought this to be a more tax effective way of extracting...
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There are circumstances in which moving profits from one company to another using service charges can be tax efficient. The only drawback is the likely challenge from the Taxman. But he can be
beaten. How?
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Payment in advance.. Getting settled. There is a hidden twist in the way in which the Taxman allocates payments made during an enquiry under self-assessment (SA) and the resultant effect on interest
payable. Rule of thumb. Your liability won’t exist until an enquiry is settled and cash can only be allocated to a liability already on the SA system....
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The most recent asylum and immigration bill could result in two-year prison terms for directors who hire illegal workers. How can you play it safe?
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You know that most contracts don’t have to be in writing to be legal. But does anyone ever sue over broken verbal agreements? Is it safe to make non-written deals, knowing that you can back out later
without a problem?
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From October 2006, new age discrimination legislation will make it illegal to discriminate against workers on the basis of their age. What should you consider now to ensure that you’re fully prepared
for these changes?
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If the company reimburses your business expenses, these figures should be disclosed to the Taxman each year. Although there’s an exemption from this, the Taxman is reluctant to grant it for
directors? How can you convince him?
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You’ve noticed that a company near you is trading with exactly the same name. Your company’s name is registered with Companies House, so surely you have exclusive rights to use it?
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