• Take Your Tax-Free Lump Sum

    • June 15, 2015
    • Posted by: admin
    • Category: Business Growth, Property, Tax
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    By taking the lump sum option offered on most personal pension schemes you receive a tax-free lump sum and purchase an annuity with the balance. Because the annuity is taxable whereas the lump sum is not (as long as it does not exceed 25% of the pension fund), you can be considerably better off from

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  • Have the tax you owe collected through your PAYE code instead

    • June 8, 2015
    • Posted by: admin
    • Category: Expenses, Tax
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    Although you have until 31 January after the end of the tax year to file your Tax Return, if you file it online by 30 December and the amount of tax that you owe is less than £3,000, you can have the tax you owe collected through your PAYE code, rather than having to pay

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  • Tax relief on Invest In An Enterprise

    • June 1, 2015
    • Posted by: admin
    • Category: Business Growth, Start-ups, Tax
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    EIS schemes offer tax relief on contributions at 30% and a tax deferral on gains. EIS investments are generally high risk and invest in a single company. If the investment is into your own company, only CGT deferral relief is available. Investing in an EIS Example: John and EIS John decides to set up a

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  • Exemption from Inheritance tax – Gifts Out Of Income

    • May 25, 2015
    • Posted by: admin
    • Category: Property, Tax, Uncategorized
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    There is an exemption for inheritance tax purposes, in addition to the £3,000 annual allowance, for gifts made out of income on a regular basis. It is important to establish the regularity of the payments in order to qualify for this relief, so if gifts are made in cash then these should be regular in

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