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PUBLICATION DATE:  MAY 2022
PAGES:  294
EDITION:  1st
ISBN:  9781911020783
STATUS:  IN STOCK

Putting It Through the Company

Tax Planning for Companies & Their Owners

By Carl Bayley FCA & Nick Braun PhD

This brand new guide answers one of the most frequently asked tax planning questions: “Can I get my company to pay for it?”

Putting It Through the Company answers this question by examining the rules for dozens of different business expenses.

The guide has just been published (May 2022) and is completely up to date.

The focus is on some of the less obvious business tax deductions, such as getting your company to buy you an electric car, putting some of your household costs through the company when you work from home, and over 30 tax-efficient perks that can be enjoyed by you and your employees.

In many cases it’s possible to score a Tax Triple Win, with the expense enjoying corporation tax relief, VAT relief and with no tax payable by you the company owner.

After reading this guide you should be fully armed with all the knowledge you need to decide what should and should not be put through the company. It is essential reading for ALL company owners, including owners of property investment companies.

What Investment Review ICAEW Review

What Information is Contained in the Guide?

Win, Win, Win!
Chapter 1 looks at some of the fabulous savings on offer if you score a Tax Triple Win: corporation tax relief and a VAT refund, with no tax payable by you the company owner/director.

Understanding Company Tax Deductions
Chapter 2 provides a plain English explanation of the rule that lies at the heart of nearly all business deductions: they must be “incurred wholly and exclusively for the purposes of the business”. Vital for better understanding what expenses your company can claim.

Claiming Back VAT
Chapter 3 moves onto the issue of recovering VAT on company expenses. “Similar but different” sums up the difference between saving corporation tax and VAT. You need to know those all-important differences to obtain the best results.

Director’s Expenses
Chapter 4 looks at the tax treatment when you incur expenses on behalf of the company or there is some personal benefit involved (e.g. travel and subsistence, entertainment, fees and subscriptions, home office costs). We look at how and when you can recover these costs from the company.

Saving Income Tax
Chapter 5 shows how much income tax you can save by putting expenses through the company instead of paying them yourself out of after-tax income. We also look at the most tax-efficient way to extract salary, dividends, and other income from your company this year.

Employing People
In Chapter 6 the focus is minimizing the cost of employing people in your company. We examine over 30 tax-efficient benefits that can help keep staff happy and keep your payroll costs down. And, very often, you can benefit too.

Capital Expenditure
Chapter 7 looks at tax relief for capital expenditure on machinery, equipment, computers, furniture, you name it. There is a dazzling array of allowances available at the moment and we navigate you through the maze.

Tax-Efficient Motoring
Chapter 8 takes a very detailed look at motoring – what you can claim back from the company and how to get the best tax relief. In some cases (e.g. company vans and electric cars) the savings are astounding.

Property
Chapter 9 examines whether to rent or buy, whether to own the company premises yourself, and what you can claim if you’re working from home. We also look at all the property running costs you can put through the company.

Other Expenses
In Chapter 10 we run through some of the other really important items that you can put through the company. These include office supplies and equipment (things like waiting room sofas, TVs, vacuum cleaners, fridges, coffee machines, toilet paper, lightbulbs, weedkiller), advertising and sponsorship, website and internet costs etc.

Click here to read the full contents listing and first section of the book

About the Authors

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Carl Bayley BSc FCA began his career as a chartered accountant over 30 years ago and is now one of the country’s most respected tax experts. He was Chairman of the Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW) from 2015 to 2018 and is currently a member of the Institute's governing Council.

Nick Braun PhD is Taxcafe's Managing Director and has been involved in the tax publishing world since 1989 as a writer, editor and publisher.

 

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