‘Salary Sacrifice’ is a mechanism where a formal agreement is made jointly by an employer and employee, to reduce an employee’s salary in return for some other benefit. The point of this arrangement is generally to save National Insurance – and this saving can then...
If your child is under 18, then your dividends would still need to be shown on your tax return (a law called s.660b). Also, any transfers of shares to a connected person – apart from a spouse – would mean that the shares must be valued at market value and Capital...
Because of quite large tax advantages compared to diesel and petrol cars, a lot more electric cars are being bought by companies for their director/shareholders. One advantage, in particular, is the low benefit-in-kind tax charge that applies to electric cars. For...
It’s that time of year when most employers arrange a Christmas Party for their staff. The rules around tax relief for Christmas parties are fairly generous so long as the party is open to all employees and not just directors/management. Party costs (including travel...
If you are a UK resident and you are selling your residential property, any Capital Gains Tax due will have to be calculated and paid to HMRC within 60 days. For the vast majority of sales, no Capital Gains Tax (CGT) will be due – because of Private Residence Relief...
Although, generally, property lawyers know about taxes associated with transfers and disposals (sales) of property, I have come across a couple of instances where they have not fully advised their clients. When a property is owned by a couple (married or civil...
