Tax credit planning
Tax Credit Tax planning ?
I have recently quoted for the accounts for a limited company and the client asked if I did Tax Credit planning.
He said that his current accountant was offering this services on a commission basis.
I was wondering if any one else is offering this services and if it is actually possible.
The only tax credit planning I can think of for a director is
1 keep salary and dividends low
2 Fluctuate directors salary bi annually to take advantage of the income disregard rules.
I remember being on course sometime ago were the speaker pointed out that point 2 would not work as the benefit office can make its own assessment on salary if it suspects income is being manipulated to maximise tax credits.
Can anyone comment on the above ? Am I missing a planning opportunity for my clients ?
All comments are greatly appreciated.
- Is Co House "losing" Abbreviated Accounts? 1,451 21
- Cocaine anyone? 34 1
- Accountancy practices - are you closed over Christmas or do you let your staff take it off? 788 25
- ACCA - still making me laugh 415 3
- can anyone recommend Turkish speaking accountants in London 233 1
- Depression - HMRC penalties case won because of this illness. 296 11
- Tax return software for remote working 453 4
- Solicitors now, Accountants next 484 9
- How come if you claim benefits you are not entitled to you either have to pay a 50% penalty or are sent to court and either fined or sent to prison (sometimes suspended) and end up with a criminal record. 409 9
- WHY AREN'T DWP RULES THE SAME BOTH WAYS ROUND 438 9
- How to purchase business premises? 125 2
- Will I need to resign? 793 10
- Childcare vouchers 138 3
- Base value unavailable re. Capital Gain 266 5
- Management Company Setup Structure as Limited Company 294 6
- VAT avoidance? 210 4
- Can S455 tax repaid 175 3
- PAYE coding out 165 3
- Follower cases 572 2
- LIVE chat, starting now 450 2
- Hive up 467
- Accounting referance change & deficient accounts. 434
- corporate hierarchy 413
- Advice - 241
- Amortisation of Goodwill 211
- Anyone had HMRC refusing to act on EPS database glitch? 199
- WWOOFers 194
- Legal Aid Agency claims and VAT 175
- Art Gallery - Splitting a property between business and personal use 173
- Co. limited by Guarantee now closed 168