Company Tax Planning Handbook: 2021/2022 (Tax Planning Series)

September 2021 Edition
The highest rate of personal income tax is 45% for 2021/2022. It's been proposed that the current 19% rate of corporation tax will continue until April 2023 when it will be increased to 25%,. Companies with profits of £50,000 or less will continue to pay at 19% even after 1 April 2023. Those with profits between £50,000 and £250,000 will pay tax at the main 25% rate reduced by a marginal relief providing a gradual increase in the effective corporation tax rate.
However, company owners need to consider both the company tax position as well as their own individual tax position. This book looks at a number of tax planning issues for company owners and considers both corporate and personal tax planning opportunities available. It is updated for the latest changes for 2021/2022 and includes numerous new sections.
Subjects covered include:
1: Introduction
2: Why Use a Company?
3: Should You Even Be Using a Company?
4: How Much Salary to Pay in 2021/2022?
5: Ways To Reduce Corporation Tax
6: Financing a New Company Tax Efficiently
7: Restrictions on Tax Relief For Interest For UK Companies
8: Using a Directors Loan Account to Reduce Tax
9: Maximizing Tax Relief on The Purchase of Business Premises
10. Maximizing Capital Allowances
11. Tax Treatment of a Foreign Permanent Establishment
12: Transferring Property Assets Out of a Company Tax Efficiently
13: Should Property Developers Use a Separate Company for Each Development
14: Why It Can Make Sense For Property Investors To Use a Holding Company
15: UK Corporation Tax Planning If You Leave The UK
16: Transferring Your UK Company Overseas To Reduce Tax
17: Using a UK Company in Offshore Tax Planning
18: Using an Offshore Subsidiary To Reduce UK Corporation Tax
19: Structuring Your Business or Company Prior to a Disposal
20: Qualifying For Business Asset Disposal Relief When Your Company Has Large Cash Balances
21: Qualifying for Inheritance Tax Relief When Your Company has Large Cash Balances
22: Tax Planning For Non-UK Residents Owning UK Property Via a UK Company
23: Maximizing Capital Allowances
24: The Patent Box and the 10% Rate of Corporation Tax
25: When Non-Resident Companies Are Within The UK Corporation Tax Regime
26: Trading In The UK With a UK Company or LLP
27: Watch Out For The Anti-Avoidance Rule On The Transfer Of Corporate Profits
28: Winding Up UK Companies and UK Tax
29: Transferring Property Assets Out of a Company Tax Efficiently
30: Tax Planning Options For The Dividend Tax Changes
31: Using a Family Investment Company in 2021
32: Tax Planning For a Business Exit
33: Claiming Home Expenses From Your Company (Including Pro Forma Documentation)
34: How Limited Companies Can Provide Share Incentives To Employees
35: Advantages of a UK Holding Company
36: Inheritance Tax Charges on UK Companies