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101 Business Tax Secrets Revealed 2014/15

business tax secrets

101 practical tax-saving tips for business owners and entrepreneurs.

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101 Ultimate Tax Secrets Revealed 2014/15

Sarah Bradford of Tax Insider

tax secrets

101 practical tax-saving tips on reducing your tax liability and increasing your profits.

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Valid in the UK
RRP: £29.99    Web Price: £12.99    You Save: £17.00
Page Length: 161
Edition: 8th
Published: April 2014
Valid in the UK
RRP: £29.99    Web Price: £9.99    You Save: £20.00
Page Length: 161
Edition: 8th
Published: April 2014
File Type: PDF
File Size: 585 KB

101 Ultimate Tax Secrets Revealed:

Revised and updated in line with the 2014 Budget.

This book is full of 101 practical tax-saving tips from the tax experts at Tax Insider. Every tip will help you reduce your tax liability and legitimately avoid tax.

The tips included in this book show you how to:

  • Increase your pension pot by saving taxes
  • Avoid tax by using the right tax structures
  • Maximise your personal tax exemptions
  • Use offshore investments to save taxes
  • Use inheritance tax gift allowances
  • Utilise age-related tax saving strategies
  • Equalise marginal rates of tax
  • Maximise tax savings through dividends
  • Save tax by choosing the right company car
  • Use tax benefits of employing your family
  • Use property tax saving strategies
  • Use tax efficient ways to give bonuses
  • Get interest relief on your main home

Click on the 'Contents' tab above to see the list of 101 tips in more detail.

101 Ultimate Tax Secrets Revealed (2014/15): Contents

Chapter 1: Making the Most of Allowances and Lower Rates of Tax

  1. Use Non-Taxpayers' Personal Allowances
  2. Keeping The Full Personal Allowance
  3. Age-Related Tax Allowances
  4. Utilising Your Annual CGT Exemption
  5. Utilising Spouse's Or Civil Partner's Annual CGT Exemption
  6. Equalising Marginal Rates Of Tax

Chapter 2: Savings and Investments

  1. ISAs And NISAs
  2. Using ISAs and NISAs To Save For Retirement
  3. Junior ISAs
  4. Bank And Building Society Interest
  5. Children's Bonds
  6. The 10% Savings Rate Of Tax
  7. Using The Savings Rate: Couples
  8. Looking Ahead To The 0% Savings Rate
  9. Do You Have Savings And Are Still Paying A Mortgage?
  10. Dividends And Non-Taxpayers
  11. Pension Funding
  12. Making The Most Of The Pension Tax Annual Allowance
  13. Making Pension Contributions For Family Members
  14. Invest In A Venture Capital Trust (VCT)
  15. Invest In An Enterprise Investment Scheme (EIS)
  16. Re-Invest Gains In A Seed Enterprise Investment Scheme (SEIS)

Chapter 3: Family Companies

  1. Pay A Small Salary To Retain State Pension Entitlement
  2. Take Advantage Of The NIC Employment Allowance
  3. Efficient Extraction Of Profits
  4. Dividends Below The Higher Rate Threshold
  5. Fluctuating Dividends
  6. Timing Of Bonus Payments To Delay Tax
  7. Make Use Of Loans To Directors
  8. Employ Your Family
  9. Considering Disincorporation? Limited Window For Relief

Chapter 4: Employers and Employees

  1. Quarterly PAYE Payments
  2. Pay PAYE On Time To Avoid Penalties
  3. Tips When Making PAYE Payments
  4. Submit RTI Returns On Time
  5. Reduce Your Employer’s NIC Bill By £2,000
  6. Use Basic PAYE Tools
  7. Dispensations For Employers
  8. Claim A Deduction For Mileage Payments
  9. Company Cars – The CO2 Rating
  10. Company Cars – Tax-Free Electric Cars
  11. Cutting Your Fuel Benefit Scale Charge
  12. Company Car Or Car Allowance?
  13. Putting Your Mobile Phone Through The Company
  14. Tax-Free Benefits Using Salary Sacrifice Arrangements
  15. Working Abroad – Tax-Free Trips For Your Family
  16. Claiming Expenses If You Don't Fill In A Tax Return

Chapter 5: Self-Employed

  1. Small Earnings Exception For Class 2 NIC
  2. Choosing Your Accounting Date
  3. Use The Cash Basis To Calculate Taxable Income And Save Work
  4. Claim Fixed Rate Deductions
  5. Choosing A Cessation Date
  6. Self-Employed? Then Consider Incorporation

Chapter 6: Losses

  1. Maximising Trading Losses
  2. The Loss Relief Extension To Capital Gains
  3. Commencement Losses
  4. Losses On Cessation
  5. Losses And Capital Allowances
  6. Unlisted Share Losses
  7. Losses And Tax Credits
  8. Beware Cap On Income Tax Reliefs
  9. Registering Your Capital Losses
  10. Registering Your Rental Losses

Chapter 7: Capital Allowances

  1. Capital Allowances: Annual Investment Allowance
  2. Short Life Assets
  3. Write Off Small Pools
  4. Choose A Low Emission Car And Claim 100% Allowance
  5. Time Your Capital Expenditure

Chapter 8: VAT

  1. Should I Register For VAT?
  2. The VAT Cash Accounting Scheme
  3. Join The VAT Flat Rate Scheme For Small Businesses

Chapter 9: Capital Gains Tax

  1. Timing Your Disposals For CGT
  2. Roll-Over Relief For Business Assets
  3. Gilts – Tax-Free Capital Gains
  4. Make A Negligible Value Claim For Worthless Assets

Chapter 10: Property

  1. Utilise Rent-A-Room Relief
  2. Furnished Holiday Lettings
  3. Claim Your 10% Wear And Tear Allowance
  4. Principal Private Residence Relief (PPR)
  5. Choosing Your PPR
  6. The Last 18 Months Rule
  7. Private Lettings Relief

Chapter 11: Inheritance Tax

  1. IHT And Gifts Out Of Income
  2. Make A Will
  3. Potentially Exempt Transfers

Chapter 12: Tax Returns and Administration

  1. Submit Your Tax Return Online
  2. File Your Tax Return By 30 December
  3. File Your Tax Return On Time To Avoid Hefty Penalties
  4. Use Rounding In Your Tax Return
  5. Avoid Unnecessary Interest
  6. Do You Need A Tax Return?
  7. T/O Below VAT Threshold? Complete These Pages…
  8. Check Your Tax Code
  9. Payments On Account
  10. Watch Out For The Online Tax Calculation...

Chapter 13: Some Final Tips

  1. Income From A Family Trust
  2. Children's Income
  3. Distributions From Trusts
  4. Making The Most Of A Low Income Year
  5. Keeping Your Child Benefit
  6. Beware The Gift Aid Tax Trap
  7. BONUS TIP: Claim Your Pre-Trading Expenditure

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