Chartered Accountants of Poynton, Cheshire
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Tax Tip
When you buy new equipment for your business, ask whether
it is energy or water efficient.
Check the list on www.eca.gov.uk to see if you could get
a 100% deduction fo the cost in the year of purchase.
On-line filing
Every year, employers are required to send details of the salaries, tax
and National Insurance deducted from their employees.
These year-end
returns have to be submitted by 19 May 2007 to avoid a fine.
These documents can be submitted on-line via the internet.
We can
assist
you in this process. If you are a small employer (less than 50 employees)
and you file on-line, HMRC will pay you £150 tax-free
if you
file on time for 2006/07.
Company Vans
There has been a big change to the taxable benefit due
on vans.
Where
an employer provides a van for an employee, which they can
use for private
journeys, the taxable benefit from 6 April 2007 becomes £3000
per annum.
This taxable benefit is not levied if the private
use is merely
incidental.
HMRC have given some guidance on what is incidental
but this
is not exhaustive so we will be pleased to advise on
the situation if
you are providing vans that can also be used for private
journeys.
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 Year-End Planning
Tax and financial planning should not be left until
the end of the tax or financial year, but in advance
of the end of your business year.
Talk to us about such issues as:
- accelerating expenditure into the current year
or deferring it until the next
- extracting profits
at the lowest tax cost
- improving cashflow and cash collection
- efficient employee remuneration strategies
- avoiding overvaluing stock and
work in progress
and much more.
Exiting your business
Everyone in business should have a personal exit strategy.
Its details will depend on circumstances, but you need
to consider whether you will be: passing on the business
to family members; selling your shares to co-owners;
selling the business to the vorkforce or a third party;
or perhaps floating the company publicly.
We can help you to:
- estimate the current value of your business
- maximise
the sale price
- decide the best time to sell
- minimise your capital gains tax liability
using indexation allowances, taper relief and other forms of tax relief
- minimise your inheritance tax
liability
Appletons' aim is to make you wealthier. Give us a
call and see what we can do for you and your business.
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