Taxation : personal tax

By: KVS & Co  08/01/2011
Keywords: tax accountants, personal tax

 

If you answer "NO" to any of the following questions, or you are uncertain, you need to

  • Are you using your allowances? By arranging for assets to be held in the best way between you and your spouse you can make income tax and inheritance tax savings.
  • Is it still sensible for you to run a company car?
  • Are all your borrowings in the right place? Interest on business borrowing is often tax deductible, but there is now no relief for a domestic mortgage.
  • Just bought or built a new premises? Are you claiming all the relief you are entitled to?
  • Do you qualify for entrepreneurs' relief? Owners of businesses that are not structured appropriately can lose out on this valuable capital relief
  • Making a gift? Have you considered the potential capital gains tax and inheritance tax cost?

Keywords: personal tax, tax accountants