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.
- Now the phishers have baited their hooks with SAGE 152 1
- Fee protection 805 16
- Joint Property rent 94 2
- Self assesment losses 196 6
- Overdrawn DLA 197 9
- Disposal of an opted property 115 2
- Sage Bank Reconciliation 225 5
- Irish Taxation 50 1
- Anyone know about Cloud-Based Practice Management Software? 151 5
- If I repay my Directors loan, will I haveto pay tax on the profit ? 3,086 31
- Increasing the personal allowance: A top priority? 949 38
- CIS monthly declaration 174 9
- Telephone call from "Xero" 328 4
- Form 2.8b notice of intention to appoint administrator 115 3
- Companies House incorporation service 463 14
- Auto-enrolment - Fees 138 1
- Electronic v printed payslips 123 1
- Where to advertise for staff 202 5
- Personal investment trading company 73 1
- CIS schemes 266 1
- Xtuple 559
- Qtac payroll for bureau 381
- Confused - Professional Association a Mutual trader, or not? 331
- Industrial & Provident Societies 321
- Domain name sale and limited company 218
- Director legal fees in loose connection to the company 201
- Italian friend wants to set up a UK company to reduce taxes 200
- Investment 199
- Tax on damages received 167
- Multiple bodies and practicing certificates 150