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Planning to avoid or reduce Corporation tax
If you're looking to avoid or reduce corporation tax, take a look at our corporation tax articles (below).
New - Free Corporation Tax Guidance!
Members can access our new Corporation Tax Consultancy Section.
This includes FREE detailed
scenario based tax planning Q&A's. New Q&A's are to be added to this daily. |
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Splitting a company's activities to reduce tax
15/06/2009
Companies frequently generate more than one source of income. You may have started a trade of X and then later gradually moved into new and completely separate areas whilst still retaining the original trade. You may also use the company to purchase investment assets (eg property or shares). In this article we look at tax planning options to separate the diffent trading/investment elements in the company . . . keep reading
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Using a corporate partner to avoid tax
03/06/2009
With the rise in the rate of income tax from 40% to 50% next year introducing a corporate partner could be an option for any partnerships looking to reduce tax. In this article we look at how using a corporate partner could be very effective in reducing tax . . . keep reading
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Schedules showing how using a company can reduce tax after April 2010
22/05/2009
The 2009 Budget has made a number of changes to apply from April 2010. Key changes include the new 50% rate of income tax and the the loss of personal allowances for high earners. This article compares estimated tax figures to arrive at specific tax savings that traders could obtain from using a company after April 2010 . . . keep reading
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Reporting income of an offshore company on a UK tax return
08/4/2009
Offshore companies can provide significant UK tax advantages providing they're established as non UK resident. The two main problems for a UK resident looking to use an offshore company to avoid UK taxes are firstly Company residence and secondly the Transfer of assets abroad legislation. In this article we look at disclosure of income of an offshore company on a UK tax return . . . keep reading
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What level of central management & control needs to be carried out overseas?
20/03/2009
Establishing a company as non resident is now mainly applicable to offshore companies that can establish their management and control overseas.However actually achieving this is less straightforward. It's essentially a question of fact so HMRC / the Commissioners will look at where in actual fact the company is controlled from (where the 'real heart' of the company is). However when they refer to 'management and control' exactly what level of control do they mean? . . . keep reading
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Transferring a trade to an offshore company & UK tax
16/03/2009
If you carry out a trade via a UK company this will automatically be UK resident and as such subject to corporation tax on its worldwide income and gains. You can't 'migrate' the company to transfer it overseas. The only way you could achieve this result would be by establishing treaty residence overseas. However there is another option - transfer the trade to an offshore company. This article looks in detail at the UK tax implications and planning opportunities from transferring a trade to an offshore company . . . keep reading
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Tax planning for a 'disincorporation'
25/02/2009
Much has been written about the tax benefits of using a company but what if you change your mind and want to go back to being a sole trader or partnership? Well for tax purposes this is known as 'Disincorporation' and it's well worth considering how this would be taxed -- particularly as the tax position on transferring assets out of a company is much less favourable than when you're transferring assets into a company. This article looks at tax planning for a 'disincorporation'. . . . keep reading
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Non Doms & their offshore companies after April 2008
13/03/2009
Many non doms had offshore companies that were used to trade overseas or otherwise hold overseas investment income. The changes to the tax treatment of non doms after April 2008 will necessitate a rethink of whether the offshore company structure should be retained.This article looks at the tax position of offshore companies for non doms after the April 2008 tax changes . . . keep reading
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Does it still make sense to rent property to your trading company to reduce taxes?
11/02/2009
Many business owners own business premises personally and let their company trade through the premises. The main advantage to this is in terms of selling the business property separately from the business. The owners have a choice whether to charge the company rent for the use of the property or not. In many cases charging rent will not now be tax efficient. This article looks at the tax advantages and disadvantages of charging rent following the tax changes applying from 6 April 2008 . . . keep reading
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Using a UK company as an export agent to reduce tax
23/01/2009
UK companies are popular for numerous reasons, however one of the key benefits, especially to overseas individuals is the degree of respectability and professionalism that it conveys. There are though no special forms of UK company targeted at non residents. This article looks at how non residents can use a UK company as an agency company to reduce UK taxes . . . keep reading
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Checklist:Year end tax planning for companies in 2008
10/12/2008
Companies who prepare accounts to 31 December will no doubt be looking at opportunities to further reduce their corporation tax bills before the end of their accounting period. This article looks at some of the key opportunities to reduce taxable profits at the year end. . . . keep reading
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Using an offshore company for UK contractors to avoid UK tax
14/11/2008
Any contractors working in the UK will usually do so via either (i) an umbrella company or (ii) by setting up their own limited company. The second option usually provides a better after tax result. Another option could be to use an offshore company, rather than a UK company, and look to avoid UK corporation tax. This article looks at how this could be structured . . . keep reading
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Offshore Tax Book
Non Dom Tax Book
Tax Havens Book
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Capital Gains Tax
