Here are some tax free treats you could take from your company, with the maximum tax free amounts for a two person shareholder-director company shown in brackets. 

• Salary (£25k pa)
• Trivial Benefits (£600 pa)
• Annual Parties (£600 pa)
• Cycle To Work Scheme (Credit License Limit: £2k)
• Private Health Checks (Annual - £No Limit)
• Eye Tests (Annual - £No Limit)
• Tax Free Dividends (£4k)
• Pensions (Possibly £80k pa – With IFA Advice)
• Relevant Life Policies (£Not Excessive)

In the great tradition of government-speak, HMRC and companies house have come up with the same acronym for different things, both of which can apply to the same small business.

PSC – According to HMRC

This means Personal Service Company. What is this?

This is usually a one-person company providing professional services to clients. Think IT contractor invoicing a bank for working on an IT project. Or marketing expert taken on to advise on expansion into a new area.

Dear Sajid Javid

Following your ambition to simplify the tax system and as we approach your 1^st Budget, may I pass on a few things that will make a difference to business’ actual experience of the tax system.

Focussed On Brexit?

What About The Tax Year End Only 1 Week Later?

With all the understandable concerns about the effect of Brexit on business, it’s easy to forget other things, such as the tax year ends only 1 week later.

At least we have some control as to what we might do before the tax year end!