Bonus, dividend or higher salary?

 If you run your own company and are considering an increase in your salary 2010-11 you might like to consider the following points: From 6 April 2010 if your income is in excess of £100,000 you will start to lose your tax personal allowance, initially this can...

The Christmas Party

For those of you who are organising a well deserved works party this Christmas we have sketched out below the current reliefs available: The cost of a staff party or other annual entertainment is allowed as a deduction for tax purposes. Also as long as the criteria...

Avoiding the high income tax rates

From 6 April 2010 the 50% income tax rate comes into play – for those with income over £150,000. For those earning over £100,000 personal allowances are withdrawn, creating an eye-watering marginal rate of 61.5% There are options. If you are concerned about the...

Loss relief – don’t lose out!

As a measure to help businesses during the recession, the Finance Bill 2009 allows trading losses for businesses to be carried back up to a maximum of three years. To qualify the losses must be suffered: For limited companies, during trading periods ending in the two...

Make the most of capital allowances

The rules on capital allowances have been changed and are now generous towards most small businesses. If you are thinking of investing in assets that qualify for the Annual Investment Allowance (AIA) during 2009-10 it is worth bearing in mind the additional relief you...