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.
- Reversing out RTI 52 3
- Capital Gain? 388 10
- Sage instant bank rec - is it possible to clear past transactions and reconcile from a given month? 263 6
- BrightPay 601 18
- Classic cars investment 230 7
- Are Court and tribunal Judges honest/commit fruad ? 191 3
- Client charged VAT by US supplier 312 7
- What are CIS subcontractor clients worth to you ? 298 7
- New Company - Corp Tax Period 258 9
- Abandoning accountancy membership in order to operate as a sole trader 810 21
- Fees for dealing with auto-enrolment 240 2
- H&W company 199 3
- VAT on sale of Vehicle 171 3
- tax teatment of index linked mortgage repayment 163 2
- Gift or Capital Gain? 271 7
- How much?? (ACCA rules on practice insurance) 131 1
- Does anyone use a cloud based payroll software 799 32
- VAT silly question 2,397 56
- Are sheepdog winnings taxable? 1,087 10
- Federation Accounts 364 10
- Benchmarking 489
- Possible Partnership? 432
- Lunatics in charge of the asylum - Bluestone 410
- Tax and accounting treatment on long lease granted from freehold 409
- Old Books for a 'NON' Client 348
- Purchase of property freehold - capitalisation of costs 208
- Growing Limited Company concerned about assets if something goes wrong 206
- Clubs and Taxable Income 194
- Income tax on foreign dividends 189
- Subsistence and hotel expenses 184