Personal Tax Planning – Part 2

Personal Tax Planning – Part 2
Last week we looked at three strategies that would help you with your personal tax planning, these were: Selling Assets by 5 April, Making gifts, Second Homes, pensions and tax efficient investments.

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Personal Tax Planning – Part 1

Personal Tax Planning – Part 1
We want to share with you over the next few weeks a number of strategies, which we think may help you with your tax planning.  We are splitting this blog into two parts so that it gives you time to work on a few of the strategies at a time.

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What are Community Interest Companies?

What are Community Interest Companies?
A community interest company, or CIC, is a social enterprise, which is established with the aim of providing a benefit to the community, rather than for making a profit or any other personal advantage. CICs were only established as a company type around a decade ago in the Companies Act 2004, and today there are more than 11,000 registered CICs. They are set up as limited companies and can vary in size with both small and large CICs operating in the UK.
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Changes to research and development tax relief claims

Changes to research and development tax relief claims
If your company pays corporation tax, then you may be able to save money on your taxes by claiming research & development tax relief. All Limited companies must pay corporation tax, but if you are unsure, then you can read our corporation tax blog to find out more.
 
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What to do if you come under tax investigations

What to do if you come under tax investigations
When you come under investigation from HMRC regarding your tax affairs, you will receive a letter from them, probably requesting certain records from you. This can be a frightening and worrying notice to receive. If and when this occurs, it is advisable to contact your accountant or another tax specialist, as handling the situation on your own could end up making things worse and with you having to pay more. As tax can be very complicated, it is better to let someone with experience in handling tax investigations help solve your problems.
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