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Posts from August 2018

One of the recurring topics I discuss with clients is business clothing – what can you claim, what can’t you claim and why. As a business owner, contractor or freelancer, it is of course important to be smartly dressed and give a great impression to your clients and customers – but unfortunately that doesn’t mean it can be claimed as a business expense. 
I am often asked by clients if they can add their wife, husband, partner, mother, father (even aunt or uncle) as a director to pay them dividends from their limited company. As ever, the answer is….it depends! 
I wrote recently about Tax Avoidance Schemes to remind you of the basics. Now to appraise you of the developments this year, including the new legislation giving HMRC more power to tackle this tax avoidance. 
HMRC is always keen to tackle tax avoidance and for the past 1-2 years it has focused its attention on “tax avoidance schemes”. Contractors are the most common target for such schemes whilst claims of 90-95% take-home pay may sound appealing, they are a honey-trap that you need to avoid! 
A small gesture of thanks can have a big impact on employee satisfaction, morale, and productivity. For employers, so called trivial benefits can make a big difference in the daily operations of a company and the good news is that many can be classed as tax free and don’t require legal paperwork. And yes, this can apply for directors of small companies too! Don’t miss out! 
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