Tag Archives: Tax Planning
How to Maximise Your Capital Allowances
Any business can claim tax allowances, called capital allowances, on certain purchases or investments. This results in a reduction in the business tax bill – which can’t be bad.
In general capital allowances are available on plant and machinery, buildings – including converting space above commercial premises to flats for renting – and research and development. [...]
How Much Can I Put In An ISA?
I’ve suddenly had a lot of people contact me to ask the above question regarding the tax free ISA (Individual Savings Account) products that are available to UK taxpayers.
This is probably due to changes that came in last month. If you don’t know what an ISA is then have a look at this earlier article.
Currently the [...]
What Is Transfer Pricing?
“Transfer pricing” is an increasingly important and contentious area of international tax law. This is because so much of modern world trade involves the transfer of goods, intangibles or services within multinational enterprises (MNEs) – groups of companies or related businesses based in 2 or more countries.
Such international trade offers scope for an MNE to [...]
Political Double Dealing
On his 2008 Presidential campaign trail, Barack Obama made his hostility toward “offshore” jurisdictions very clear:
“There’s a building in the Cayman Islands that houses supposedly 12,000 U.S.-based corporations. That’s either the biggest building in the world or the biggest tax scam in the world, and we know which one it is.”
I know that building well; [...]
Taxman Faces Writs for VAT Errors
HM Revenue & Customs are facing a flood of legal claims that will blow another massive hole in the public finances.
In the past few weeks thousands of High Court claims have been lodges by companies and local councils relating to millions of pounds of interest wrongly charged by HMRC.
When HMRC makes a repayment to a [...]
UK Budget Bombshell for Second Home Owners
A shock announcement in the small print of this year’s budget has left thousands of UK farmers and second home owners reeling at the loss of tax breaks without which they may have to sell up. Not a good thing in a falling market. But it could benefit owners of foreign holiday property.
Buried deep in [...]
Offshore Tax Havens: Who Did Chancellor Merkel Have in Mind?
Anyone setting up a business in Germany has a few problems to overcome. High taxation, high social charges, and high cost of company formation to name just three. That’s why more and more Germans are setting up companies in the United Kingdom.
Believe it or not, the UK remains very business friendly. Anyone can set up [...]
