- We believe in acting pro actively when it comes to tax planning because we know it will save you our client money. We have developed a series of tax tips which are designed to highlight the most up to date things you can do to minimise your tax bill.
- If you spend money insulating your rental properties you can claim a whopping £1500 per annum against your taxable profits up to 2015.
- If your employer pays you a mileage allowance for business trips that is lower than Inland Revenue accepted scale rates, 40p for the first 10000 miles and 25p for subsequent miles, you should claim the difference against you tax bill every year.
- Make sure you claim for use of your home as an office against your business profits
Make sure you claim subsistence costs if you are absent from your normal place of business. You can claim £5 if you are in excess of 5 hours away and £10 if you are in excess of 10 hours away.
- Review your salary/dividends ratio to ensure your company pays you in the most tax efficeint way but in a way that does not undermine your state pension entitlement and that will be acceptable to Inland Revenue.
Tax Tips