Taxcafe.co.uk - Essential Tax Advice Guides
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PUBLICATION DATE:  FEBRUARY 2024
PAGES:  150
EDITION:  1st
ISBN:  9781911020912
STATUS:  IN STOCK

Tax-Free Cash

By Nick Braun PhD

This brand new guide shows you how to enjoy much more TAX-FREE interest income.

Published in February 2024, it's completely up to date with numerous tax-saving tips and strategies you can follow to boost the returns on your cash.

Between 2009 and 2022 the UK enjoyed well over a decade of rock-bottom interest rates. Throughout this period mortgages were dirt cheap and savings accounts paid minuscule amounts of interest.

The era of ultra-low interest rates is now over and there are lots of steps savers and borrowers can take to both make more money and save more money in the years ahead.

This guide will arm you with all the knowledge you need.

What Investment Review ICAEW Review

What Information is Contained in the Guide?

Mastering Interest Rates
Explains the importance of earning a real (inflation-adjusted) return on your savings and why your interest income has to be tax-free to enjoy that precious real return.

Plus everything you need to know about the £85,000 Financial Services Compensation Scheme. With the FSCS shouldering the risk, you can reap the benefits of the higher interest rates available from some of the smaller, lesser-known banks. We also unveil how business bank accounts are protected and the special protection for “temporary high balances” of up to £1 million.

Unravelling How Interest Income Is Taxed
Provides clarity on how and when interest income is taxed, the various tax-free allowances available, and how one taxpayer saves £1,469 by delaying his tax bill by several years.

Plus how to save tax by giving cash to your spouse or partner so they can earn tax-free interest. There's also a chapter tailored to company owners who can often enjoy up to £6,000 of tax-free interest every year.

Turbocharging Tax-Free ISAs
Unlock tips and tricks to help you make the most of the wonderful ISA tax shelter, including recent changes (from 6th April 2024) that make cash ISAs more attractive than ever, and how to boost your tax-free returns by investing in money market funds and Innovative Finance ISAs.

More Tax Saving Tactics
How to completely wipe out all the income tax payable on your interest income by making pension contributions. Plus the benefits of giving money to your adult children so they can earn tax-free interest - in one example this saves the family £2,340.

Unlocking Savings Platforms & Premium Bonds
How online savings platforms can be used to effortlessly transfer your savings from bank to bank, thereby maximising your interest income.

Plus a special chapter on premium bonds, which can be an attractive alternative for higher-rate taxpayers and additional-rate taxpayers.

Earn More Interest on Your Business Cash
Why keep your business cash in a current account when you can earn decent interest in a special business savings account? Plus how company owners can get their hands on company cash and earn tax-free interest.

Also special chapters on borrowing money from your company and lending money to your company. Couples can borrow up to £20,000 tax-free for up to 21 months. And if you lend money to your company the interest could be a tax deductible expense for the company and tax-free in your hands.

Earn Tax-Free Interest by Paying Off Debt
Paying off your personal debt is a great way to earn tax-free interest. This is because paying less interest is just as good as earning it – and often better from a tax saving standpoint.

Topics covered include:

Landlords enjoy 20% tax relief on their interest payments, self-employed business owners enjoy up to 62% tax relief. Find out how to quickly calculate the true cost of your borrowings, net of tax relief. Armed with this information you can work out how much you will save by paying off some of these debts.

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

About the Author

Author Image

Dr Nick Braun founded Taxcafe in 1999. Over the past 25 years the company has become one of the UK's best-known tax publishers and has won several prestigious business awards. Nick has been a specialist tax writer since 1989, first in South Africa where he edited the monthly Tax Breaks publication and since 1999 in the UK, where he has authored several tax books. Nick also has a PhD in economics from the University of Glasgow where he was awarded the prestigious William Glen scholarship and later became a Research Fellow.

Free Bonus Tax Guide: How to Save Tax 2023/24

When you order this guide you will also receive a FREE e-book copy of How to Save Tax 2023/24.

This comprehensive tax guide contains over 150 pages of tax saving tips. Updated following the March 2023 Budget, it contains all the latest tax changes and is essential reading for all salary earners, business owners, landlords and retirees - anyone who wants responsible, tried and tested tax planning information.

Please click here for more information on this excellent bonus e-book.

What Will I Receive?

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