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

 
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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Tax deductions for “spouse’s wages” Publication date: 27.11.2017
Article database » Husband and wife companies » Income splitting
Your new bookkeeper has suggested you pay your other half a salary and claim it as a business expense. He says as long as you actually pay them HMRC can’t object to the tax deduction. Is this really correct?
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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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Sharing the family income Publication date: 29.01.2009
Article database » Husband and wife companies » Dividends
The current economic downturn has resulted in falling income for your family and now your partner has been made redundant. Could you transfer some of your income to them and save some tax in the process?
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Spouse’s wages Publication date: 10.04.2008
Article database » Enquiries/investigations » Investigations
If, during an enquiry into your business accounts, the Taxman queries your tax deduction for “spouse’s wages”, how should you respond? Or what can you do now to improve your case should he ask sometime in the future?
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Should you change your shareholding? Publication date: 28.02.2008
Article database » Dividends » Husband and wife
From April 6 2008 the new income shifting law threatens to increase tax bills for all business owners who share out their business profits. Is there anything you can do now to protect yourself and your business from this new law?
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Act now to avoid higher taxes Publication date: 31.01.2008
Article database » Dividends » Husband and wife
From April 6 2008, a new law will make it difficult to save tax by paying dividends to your spouse. What should you be doing now to get around this?
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Income splitting Publication date: 20.12.2007
Article database » Husband and wife companies » Income shifting
Income splitting.. On income splitting. Back in July, HMRC published guidance on how it saw the tax rules applying following the taxpayer’s victory in Garnett v Jones (the Arctic Systems case). However, that is not the end of the story. At the time of the judgment, and in his Pre-Budget Report speech, Chancellor Darling announced that new legislation...
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New justification for spouse’s salary Publication date: 05.07.2007
Article database » Employees » Miscellaneous
Not sure if the salary you pay your spouse is going to survive the Taxman’s “excessive for their duties” challenge? Here’s a new way you could justify paying them more than the going rate. What’s involved?
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Splitting a business to avoid VAT Publication date: 29.03.2007
Article database » Husband and wife companies » Income splitting
Your spouse has a business which has been doing rather well of late. So much so that its turnover will soon exceed the VAT registration threshold. However, you don’t want to register it for VAT. How can you do this?
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