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How to avoid or reduce Income tax
If you're a higher rate taxpayer nearly half of your earned income above the higher rate band will go the taxman. In this section we include articles and reports that look at how to avoid or reduce income tax. You may also want to have a look at our Income Tax Consultancy Questions which looks at numerous income tax planning questions in detail. Establishing non UK resident status is a very effective method of avoid UK income tax on overseas income. You can also avoid UK income tax on some UK income as well. Look at our emigration section for more details of this.
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Investing tax efficiently for your children
01/09/2010
This is a popular topic with site members, and as Child Trust Funds will be withdrawn after January 2011 this has led to a number of e-mails asking for tax efficient options to invest for children. In this article we look at the options for investing tax efficiently for your children . . .
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Is this the first step to Dividends being charged to NIC?
18/08/2010
When looking at extracting cash from a company, one of the advantages of a dividend, as opposed to a salary/bonus arrangement is that dividends are not subject to NIC. This can save you NIC (at 11% or 1%) and can also save the company NIC (at 12.8%). In this recent case HMRC challenged this tax treatment of dividends and argued that they should be subject to NIC. . . .
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Using a company to reduce taxes after the Emergency Budget
09/07/2010
There have been numerous changes to corporation tax rates and income tax and national insurance rates in recent years. The latest changes have been made in the recent Emergency Budget. However, just how will they effect your decision as to whether to use a company for your trade? . . .
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Tax free redundancy receipts after a recent Tribunal case?
07/06/2010
A recent case suggests that a payment to reduce an employee's future contractual redundancy rights can potentially be entirely tax-free. In addition it doesn't count towards the £30,000 exemption available on any future termination of employment. In this article we look at the facts of the case and any tax planning opportunities . . .
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Transfer to trust & IHT
Question: If my mother(aged 95) does a transfer to a Trust of £400,000 I understand this will have a tax charge of 20% on the amount above the IHT limit. So - am I correct that she would immediately pay the taxman 20% of £75,000 (good - this would lower her estate value!) BUT what would happen if she died a week after giving the gift ? Would it be the same affect as if she had never done it, or would it be that she paid the 20% charge and then had to pay 40% IHT on top of this ? What tax would be payable if she died 3 years after making it, and what tax would be payable if she died 7 years after making it? . . .
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Moving abroad to avoid the 50% rate of income tax
16/04/2010
As the top rate of income tax (officially known as the 'additional rate') has increased to 50% as from 6 April 2010, we're often asked "Can I move abroad to avoid this 50% tax rate?". In this article we assess how moving abroad can allow you to avoid the new 50% rate of income tax . . .
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Tax efficient employee remuneration with share schemes in 2010
14/04/2010
Ensuring employees are paid tax efficiently is a key issue for both employees and employers. This is particularly the case as from April 2010 as we now have a 50% rate of income tax applying for anyone earning over £150,000. When you consider that the rate of CGT is still currently 18% structuring remuneration to employees tax efficiently can result in big tax savings. In this article we look at how share schemes can be used tax efficiently in 2010 . . .
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Here's what our members are saying ...
"I joined the site after reading an offshore tax guide and was certainly not disappointed. The practical and 'to the point' tax planning has already saved me a considerable sum. I'd recommend this website to anyone."
Jerry Brown, Edinburgh
"I've saved £5,659 in CGT by using this site to double check my accountants advice. My wife has also identified further income tax savings of over £2,000 as result of the property tax articles.
In our case it's well worth the £10 membership fee."
Derek Bailey, Birmingham
I must thank you for the most informative reply to my enquiry.
It is so extensive, I intend setting an evening aside to absorb it all.
Again, thank you for a most useful website.
RB, UK
"Well written reports that are clear and insightful. I look forward to reading them every week!
Natasha Foude, France
"I have to say your web site is by far the best prepared and most informative that I have seen."
Elsa Budding, Newcastle
"I'm planning my emigration and the offshore reports are exactly what I'm looking for. I'll definitely be renewing!"
Sarah Mather, Reigate, Surrey.
"The property tax advice service was excellent, and I'd have no problems recommending it to anyone. I received my answer within 1 day and was very pleased with the response
Robert Saunders, Leicester
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Offshore Tax Book
Non Dom Tax Book
Tax Havens Book
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Benefits of Membership
