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Top 10 Tax Tips for Limited Company Directors

As a company director, it’s imperative that you do what you can to make the right tax savings. If you want to better manage your finances, it pays to make use of tax tips that help you to get the most out of the money that you earn.

  • Executive pension scheme

  • Paying dividends

  • Claiming expenses properly

  • Making an investment

  • Further tax tips for your business

 
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NOn RESIDENT Landlords Tax Gains ON UK IMMOVABLE PROPERTY

From April 2019 non-residents will be subject to capital gains tax on disposals of all UK property.

In the 2017 Autumn Budget, the Government announced that from April 2019 tax will be charged on gains made by non-UK residents on the disposal of all types of UK immovable property; effectively extending the rules that currently apply to non-UK residents on disposals of UK property.

  • Scope of the new charge

  • Direct disposals by non-UK residents

  • Indirect disposals by non-UK residents

  • Anti-forestalling rule and TAAR

  • Interaction with the ATED rules

  • Conclusion

 
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MAKING TAX DIGITAL


Making Tax Digital (MTD) marks the end of paper record-keeping for millions of businesses and self-employed professionals in the UK. If you have a VAT-registered business, you need to prepare for MTD by 1st April 2019. Read further on the various topics below:

  • What’s happening in April 2019?

  • What VAT records will need to be kept digitally?

  • How will Devonshire Green prepare for MTD?

  • What else is changing?

 
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LIMITED COMPANY OR LLP FOR BUY TO LETS

Recent tax changes have caused an increase in the number of landlords moving ownership of their property portfolio into partnerships and limited companies in order to benefit from relief from capital gains tax (CGT) and stamp duty land tax (SDLT). The key elements on this subject are:

  • Capital gains tax (CGT) and stamp duty land tax (SDLT)

  • Tax planning and negotiation with the tax authorities

  • Budget changes and the implications on property

  • Differences and similarities between limited companies and LLPs

  • Benefits of limited companies or LLPs

 
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THE 2019 LOAN CHARGE

The 2019 Loan Charge is to collect taxes from anyone who is in violation and used a disguised remuneration scheme from 6th April 1999. Self Employed individuals would have received their income through a loan scheme, will be taxed  from 5th April 2019. HMRC  requires all of this due tax to be paid by 31st January 2020 

  • "Bankruptcy looming”

  • What counts as disguised remuneration

  • Are you affected

  • Deadline

  • Seek advice on the 2019 Loan Charge

 
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How will Brexit Affect Contractors and Limited Companies

On 23 June 2016, via a nationwide referendum, Britain voted to leave the European Union. Britain’s exit, or ‘Brexit’, took the world by surprise. Here we look at the main consequences for workers post-Brexit.

  • The beginning of Brexit

  • Tax ramifications

  • The potential pros and cons for contractors

  • The future of contractors working in the UK

 
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HEATHROW EXPANSION AN OPPORTUNITY FOR CONTRACTORS

The prospects and opportunities involved for contractors due to this project is looked into and the benefits associated with Business Summits in relation to this innovative construction project is touched upon. Both the financial and social aspects of such a project are highlighted

  • A New Milestone for Heathrow

  • A Major Infrastructure Change

  • The M25

  • An Opportunity for Contractors

  • Business Summits

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Revealing the enigma of IR35

You may have heard the term IR35 before, but do you know what does it exactly stand for, or more importantly what it entails? IR35 is a tax legislation designed to deal with tax evasion by workers who are providing their services through intermediaries like a limited company, who otherwise would have been an employee if there was no intermediary used. Her Majesty’s Revenue and Customs (HMRC) refers to these workers as “disguised employees”. IR35 is a set of rules affecting the contractor’s Tax and National Insurance who works for a client through an intermediary.

  • What is IR35

  • Rules and regulations

  • Reasons for imposition

  • Financial impacts

  • Consequences

 
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TAX RETURN DEADLINES – DATES AND TIPS TO AVOID GETTING PENALISED

Running a business means coming into more contact with HMRC, with an increase in obligations for both filing, making regular tax payments and potentially more penalties if deadlines are missed. We look at the key areas below:

  • Self-Assessment: key dates

  • VAT

  • Corporation Tax

  • PAYE and Class 1 National Insurance (NI)

  • Meeting HMRC’S deadlines for tax returns and payments