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KRW Tax Tips

07 June 2018

Company cars for the kids

on Thursday, 07 June 2018.

With company car tax based on CO2 emissions and the list price when new, company cars are rarely tax efficient for company owners, usually due to the type of cars they want to drive!

In this month’s Tax Tip we consider the tax implications of providing low emission company cars to your kids, which can offer some great tax savings, especially in relation to insurance.

01 May 2018

2018/19 is the final year for paying voluntary Class 2 NICs

on Tuesday, 01 May 2018.

Under current rules, self-employed taxpayers making low profits (below £6,205 pa for 2018/19) are exempt from paying Class 2 National Insurance but can choose to pay it voluntarily.

In this month’s Tax Tip we look at the benefits of paying Class 2 NIC voluntarily in 2018/19, which won’t be possible when Class 2 NIC is abolished in April 2019.

01 March 2018

The tax advantages of holding shares in a holding company

on Thursday, 01 March 2018.

There are many reasons to consider holding the shares in your trading company through a separate holding company, the main one being to safeguard retained profits.

In this month’s Tax Tip we look at the Substantial Shareholding Exemption (SSE) and how a holding company can sell the shares in a trading company tax-free.

31 January 2018

How to reduce personal tax retrospectively

on Wednesday, 31 January 2018.

With the 31 January Self Assessment tax payment deadline looming, we often encounter clients that want to reduce their tax liabilities. But surely it’s too late?

In this month’s Tax Tip we look at a couple of ways to take action now that can reduce your tax bills for the previous tax year.

06 November 2017

How to reduce company car tax

on Monday, 06 November 2017.

Company car tax is based on the car’s list price when new, and its Co2 emissions, and with annual increases, the tax/NIC on a company car benefit can soon mount up.

In this month’s Tax Tip we look at how use can be made of the capital contribution and interest-free loan rules to mitigate the tax implications of providing a company car.
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