Article Database - Topic: 'Husband and wife companies' - Keyword: 'Income shifting'

 
Husband and wife companies - tax on dividends Publication date: 08.07.2019
Article database » Husband and wife companies » Dividends
You’re about to form a new company of which you’ll be the main income generator. To save tax your spouse will own shares in the company. Should you subscribe for shares and give some to them, or should you both subscribe?
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Tribunal shifts tax bill to director’s partner Publication date: 01.11.2017
Article database » Husband and wife companies » Dividends
In a tricky dispute between HMRC and a director, the First-tier Tribunal ruled that income due to her from her company was actually taxable on her partner. If your partner is a director of your company, could the ruling have implications for you?
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Shifting your tax bill the easy way Publication date: 25.10.2016
Article database » Husband and wife companies » Income shifting
Special rules apply to income received from assets which are jointly owned by married couples. They allow you to vary the share of income on which you each pay tax. How can you use these rules to create tax savings?
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A new twist to income shifting Publication date: 09.07.2015
Article database » Husband and wife companies » Income shifting
You’ve been told that you can reduce your higher rate tax bill by transferring some of the shares in your company to your partner. The transaction can be a simple gift, but is there a more tax efficient alternative?
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Can borrowing from your partner save tax? Publication date: 12.05.2014
Article database » Husband and wife companies » Income shifting
Your company needs extra working capital. Your other half has suggested that as her savings earn interest at a paltry rate she can lend the money for a reasonable rate of interest. How can you structure the deal for maximum tax efficiency?
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HMRC wins profit shifting case Publication date: 18.02.2014
Article database » Dividends » Waivers
A tribunal recently ruled that the profit shifting scheme used by two married couples who were shareholders in the same company was caught by anti-avoidance rules. What went wrong and how can you avoid the same trap?
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Income shifting - transferring shares to your spouse Publication date: 10.12.2013
Article database » Gifts » Miscellaneous
Your business started a year ago and is now doing well so you want to transfer shares in the company to your spouse. You’ve heard this must be done a certain way or it won’t be effective for tax. What are the traps to look out for?
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Is sharing income with your spouse tax abuse? Publication date: 13.11.2013
Article database » Husband and wife companies » Dividends
The tax general anti-abuse rule (GAAR) became law this summer, and there have been rumblings that HMRC will use this to attack income shifting between spouses. Should you be concerned about this?
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Why it’s worth paying directors’ fees Publication date: 15.11.2011
Article database » Husband and wife companies » Income shifting
The Taxman’s instruction manuals say he should challenge companies that pay salary to a director’s family just as a way of avoiding tax. Is there a legitimate way of paying them which can achieve the same result?
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Income shifting - the big picture Publication date: 29.09.2010
Article database » Companies » Dividends
A few years ago the Taxman got hammered by the court in the Arctic Systems income shifting case; recently he tried his luck again. He lost but it was a close call. What tax planning tips can be gained from this latest case?
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