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Quick Tax Tips (QTT), Important Updates (IU) and Hot of the Press (HOP)
QTT - Property investments and tax savings


Are you looking to invest in property as a way of building up a nest egg? Are you aware of the 100% capital allowances for converting property above shops into flats? There are a number of criteria to meet, however if held for 7 years or more there is no claw back of the up front allowance. This can prove to be a significant income tax saving for those looking for a different type of property or possibly even a bargain.

HOP - Is it possible for a growing business to not pay tax?

It sounds too good to be true, doesn’t it?

We’ve teamed up with one of the UKs leading tax specialists in corporate restructuring giving us access to a strategy for helping you pay much, much less tax. And as you’d expect from one of the regions leading firms of accountants, it’s all perfectly legal.

Are you considering expanding your business, for example, breaking into new markets or producing a new product or service? If so, it is possible to structure your business in a way that allows you to enjoy approximately five years of tax free profits on your new expansion.

This could save you tens of thousands of pounds in tax. By undertaking a review of the business and expansion plans a bespoke strategy report is produced highlighting how substantial tax savings can be made.

So if you are expanding your business and if you would like us to produce a free report showing you how much tax you could save please contact us – and as with most tax planning it is better to do this before you start a new project.

IU - Protection can be cheap!

An Enduring Power of Attorney (EPA) will enable you to nominate a trusted individual to deal with your financial affairs in the unfortunate event that you cannot deal with them yourself, either physically or mentally. This can be a lot cheaper and quicker than having to apply to the Court of Protection. It is always better to have one and not need it, than need one and not have it!

QTT - Bed and Spousing

For those investing in shares one way to take advantage of the annual capital exemption (currently £8,800) is to sell shares and ensure that the total gains for the year are below the annual capital exemption. The uplift in value would be totally tax free.

Previously it was possible to sell shares and buy them back on the same day and secure the tax free gain. These days there must be a period of 30 days between the sale and buy back. Alternatively a spouse can instantly repurchase shares sold on the same day to secure the tax free gain and reduce the risk from market movements.