Update and Coming Soon - For TJ Members

Update for all TaxJunction advisers and ‘soon to be’ advisers and specialists. The platform officially launched on 1st October and here we are, less that one month later and we now have a fantastic group of featured specialists whom we know to be experts in their respective fields of tax.That’s a great start! Is that it now? Sit back and w....
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HMRC Capital Allowance Statistics 2020

Capital Allowances is the main form of tax relief for expenditure incurred on tangible fixed asset investments and enables companies and individuals to offset these costs against the taxable profits of the trade, reducing the amount of corporation or personal tax payable. The allowances are usually offset against taxable profits over several years,....
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Tax Tip #3 - Tax Free Income

If you have put money inside your limited company, you could be getting some tax free income out of it.That's right tax free income.You're probably thinking how?Well let's say you buy a property inside your limited company for £100k. Now say you have a 75% (£75k) mortgage, which means 25% (£25k) is paid by you as a loan to your limited company to c....
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Tax Tip #2 - Tax Free Income and Incentives

Take advantage of tax free income from your company both for yourself and to incentivise your employees.You could provide your employees some trivial benefits, this could be:1. Taking a group of employees out for a meal to celebrate a birthday.2. Buying each employee a Christmas present or birthday present.3. Flowers on the birth of a new baby.4. A....
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Tax Tip #1 - Failing to plan

Failing to plan is planning to fail.Tax evasion is illegal, tax avoidance has had so much bad press in the recent years but tax planning just makes sense.The judge, Lord Tomlin, famously said:"Every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be. If he succeed....
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