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What’s the VAT treatment of gifts to staff?
VATYou want to reward staff for meeting certain targets. Instead of giving them a cash bonus, you will provide them with free goods from your retail stock. What are the VAT issues for your business?
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Avoiding a loan charge without repaying in cash
Business TaxBorrowing money from your company can result in a tax charge for it. This can be avoided by clearing the debt within a time limit set by HMRC. But that’s a problem if you don’t have the cash to do it. Is there a tax-efficient alternative?
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Can a trust shelter company income for your children?
Personal TaxA friend told you that she avoided tax on dividends from her company shares by putting them in a trust for her children. Unfortunately, she was light on details of how this worked. Can avoiding tax as she described be that simple?
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Can company directors entertain themselves tax free?
Business TaxYou and your fellow directors have just landed a prestigious new customer and you plan to celebrate in style. Is the company entitled to a tax deduction for such expenditure?
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Invoicing: can you improve your VAT cash flow?
VATThe economic slowdown might mean that some of your customers are taking longer to pay their invoices. This means that you cannot pay your suppliers as quickly. How could changing your invoicing procedures help your VAT cash flow?
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Shrink the tax bill on your investment bonds
Personal TaxAn investment bond you bought a while ago is about to mature and pay you a large lump sum. Your financial advisor says there will be a significant tax bill to pay on it. What steps can you take to reduce this?