101 Ways to Pay Less Tax (2012/13)

101 Ways to Pay Less Tax (2012/13):

Revised and updated in line with the 2012 Budget for this new eighth edition.

Pay less tax this year by lowering your tax bill with this book of easy-to-follow "how to avoid tax" hints and tax saving tips from a team of pay-less-tax experts.

This new 2012/13 edition of the bestselling 101 Ways to Pay Less Tax provides a wealth of tips to help you save paying tax. Every tax-saving tip is from a team of tax-saving experts at H M Williams Chartered Accountants, a national award winning tax-saving specialist firm of chartered accountants.

The tax-saving tips included in this book are all legitimate ways to help reduce your tax bill - that is, showing you how to avoid tax rather than evade tax. And there's so much you can legally do to reduce your tax bill and pay less tax.

With tax-saving tips relating to:

• Tax-saving for those with low incomes
• Even more tax-saving for those with high incomes
• Pensioners and tax
• Tax and Employees
• Business tax and Employers
• Company cars and tax-saving
• Business tax: Running a business and avoiding tax
• National Insurance
• Capital Gains Tax
• Inheritance Tax
• Tax: Overseas aspects
• Tax saving when someone dies
• Pensions and avoiding tax 
• Property Tax
• Pay less tax: Savings
• Charitable giving and avoiding tax
• Tax, Marriage and children

Start to pay less tax NOW with 101 Ways to Pay Less Tax (2012/13).

About the Authors

Authors Ashley Smith, Tim Smith, Iain Watson and Hugh Williams are all accountants at HM Williams Chartered Accountants and have been winners of the prestigious Butterworth Tolley Best Tax Team Award. The firm has also been awarded the coveted Daily Telegraph/Energis Customer Service Award in the Professional and Business Services, Small Organisation category. In 2007, it won the 2020 award for the most innovative medium-sized UK accountancy practice.

Other Tax-Saving Guides from Lawpack:

• Tax Answers at a Glance
• How to Avoid Landlord Taxes
• 127 Landlord Tax Questions Answered

101 Ways to Pay Less Tax (2012/13): Contents

Tax planning

1. Put commercial considerations first
2. Working Tax Credits
3. Child Tax Credits
4. Use an accountant
5. Pay tax on time
6. The fundamentals of tax planning
7. Attributes needed by a tax planner
8. How to be a tax planner
9. A summary of tax-saving tips for personal taxpayers, both rich and poor

Low incomes and tax-savings

10. Become a foster carer
11. Claim tax back on any interest you receive

High incomes: how to pay less tax

12. The Enterprise Investment Scheme (EIS)
13. Venture Capital Trusts (VCTs
14. Community Investment Tax Relief
15. Maximise pension contributions
16. What income is free from tax?
17. Pension contributions and the over 50s

Married couples: how to pay less tax

18. Equalise your incomes
19. Pay your spouse to work in your business
20. Tax and civil partners

Employees: tax-saving tips

21. Claim a flat-rate expense allowance
22. Professional subscriptions
23. Claim incidental expenses when travelling on business
24. Claim expenses against your employment income
25. Claim for the use of your home as an office
26. Submit your Tax Return on time
27. Join the company pension scheme
28. When losing your job
29. Would you pay less tax if you went self-employed?
30. Moving because of your job?
31. Those who are about to retire or who have retired: a summary of tax-saving tips
32. Those moving house or changing jobs: a summary of ways to pay less tax

Business tax and employers

33. Short-term employment contracts
34. Share schemes
35. Tax-free benefits you can give to employees
36. Employees, employers and company directors tax-saving tips: a summary

Car tax and petrol duty

37. Vans have some tax-saving attractions
38. Company cars
39. The best (and worst) ways of providing company cars
40. Claim approved mileage allowance payments for your car
41. Avoid the fuel tax charge
42. Own your own car rather than using your employer’s

Self-employment, limited companies and partnerships

43. Travelling expenses
44. Limited companies
45. Introduce goodwill to create a large director’s loan account and pay very little tax
46. Don’t automatically reclaim VAT on fuel
47. The flat-rate VAT scheme
48. National Insurance
49. Annual Investment Allowance and First-Year Allowances
50. The tax advantages of converting commercial property into residential use
51. The benefit of short-life assets
52. Use your business’s losses
53. Have you claimed for all your business expenses?
54. Farmers and averaging
55. Partnerships
56. Claiming tax relief on interest
57. A summary of tax-saving tips for the self-employed

National Insurance

58. Get a state pension forecast well before retirement age
59. Don’t pay too much National Insurance
60. Deferral of your state pension

Capital Gains Tax

61. Make use of the Capital Gains Tax changes
62. Make use of the annual Capital Gains Tax exemption (1)
63. Make use of the annual Capital Gains Tax exemption (2)
64. Don’t overlook claiming relief for shares that are now worthless
65. Entrepreneurs’ relief
66. Assets you can sell without incurring Capital Gains Tax
67. Suggestions for investments with tax advantages
68. It can be a good idea to crystallise capital gains if there is going to be no tax to pay
69. Claim rollover relief
70. Time your sales to defer payment of Capital Gains Tax
71. Reduce or eliminate Capital Gains Tax on a second home
72. Capital Gains Tax planning: a summary

Inheritance tax

73. Check up to see what your Inheritance Tax is likely to be
74. What gifts are exempt from Inheritance Tax?
75. Inheritance Tax business/agricultural property relief
76. Changes to the tax-free band
77. Inheritance Tax planning: a summary

Tax-saving and living overseas

78. Can you save tax by going abroad?

Tax-saving when someone dies

79. Don't overpay Inheritance Tax on assets that are sold
80. Remember to claim full probate costs when someone dies
81. Capital Gains Tax and Inheritance Tax considerations

Pensions and tax

82. Take out a pension
83. You may be able to take out a pension even if you are not earning

Property tax-saving tips: income from property

84. Rent a room
85. VAT and rent
86. Have you claimed for all the expenses you can?
87. Claim the interest on any loan you take out to buy the property
88. Do you and your spouse jointly own the property?
89. Forestry

Tax-saving tips for your savings and investments

90. Claim tax deducted from deposit interest
91. ISAs and investments
92. Premium savings bonds

Charities and tax-saving

93. Gift Aid
94. Charities

Marriage, children and divorce

95. Give children assets when they are not worth very much
96. What are the best investments for children?
97. Tax-saving tips for children: a summary
98. Plan separation and divorce carefully

Tax-saving tips

99. Free HMRC explanatory publications – a good source of tax information
100. Tax-planning dos
101. Tax-planning don'ts

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