Monthly Archives: March 2016

Multi-nationals and sweetheart deals

 In an unprecedented move, HMRC have issued a press release regarding the accusation that Google were offered a deal that short changed UK taxpayers. Here’s what they had to say regarding the “sweetheart deal” accusation and the settlement with Google: ‘Sweetheart deal’ HMRC does not do “sweetheart deals”. The National Audit Office has full access […]

Incorporation v self-employment

Prior to 6 April 2016, self employed traders could make overall tax and NIC savings by incorporating their business if their annual income from self-employment exceeded approximately £10,000. The saving generally arose by taking a low salary and the balance as dividends thus avoiding NIC charges. Unfortunately, changes to the tax system from 6 April […]

Incorporating a property business

Since the recent announcement of various changes to the taxation of unincorporated property businesses, there has been renewed interest in incorporation: would it be possible to shelter property income and capital gains inside the lower Corporation Tax regime?  Unfortunately, this apparent quick-fix for property business owners is fraught with dangers for the unwary. For example: […]