Owning your company jointly with your spouse can significantly reduce your tax bill compared with owning it alone. It’s worth transferring shares as a gift to achieve this, but might a sale to your spouse be even more tax efficient? Family (tax) planning Owning your company jointly with your spouse, rather than on your own, [...]

You use HMRC’s approved benchmark rates when you pay your employees for subsistence when they travel for work. The trouble is, if you follow HMRC’s latest advice you may be costing yourself VAT. What’s the full story? Simple subsistence You’re probably aware that from 6 April 2019 the law changes to simplify employers’ admin for [...]

You’ve set up a company to run a new business venture. It’s risky and may come to nothing. In the meantime the company is incurring significant costs. Can you recover the VAT, and if so when? Start-up costs The set-up period and associated costs will vary depending on the type of business you’re starting. These [...]