Family Companies – How To Spread The Profits More Tax Efficiently?

In the back of our minds, we are all aware of tax avoidance being a “no-no” but are there legal ways in which to share distributable profits from your company more tax efficiently? HMRC certainly have very robust legislation behind them to prevent any abuse and if you transfer some of your company’s shares in […]

How Tax Efficient Is It To Invest In Your Own Company?

If your company is paying high bank charges for its overdraft facility, is it possible to use personal funds to save the company costs as well as generate tax efficient income for you? The cost of company borrowing does vary and with rates for arranging overdraft fees exceeding in some cases 5% for low risk […]

National Insurance Update – New Rules From 6th April 2018

The Autumn Budget in 2017 included not only an increase in the personal allowance but also an increase in the national insurance limits from 6th April 2018. The table below sets out the 2017/2018 and 2018/2019 tax and national insurance thresholds and tax allowances:   2017-2018 2018-2019 Personal Allowance £11,500 £11,850 Basic Rate Band £33,500 […]

Incorporation – What Is It All About?

There have recently been several major tax changes to companies which can affect a decision for a business to become incorporated. The first is the change in the dividend rules and the second is the restriction on tax reliefs on the transfer of goodwill to a limited company. There is also a restriction on a […]

Tax Updates – February 2018

The New PILON Rules: as an employer and from February 2018, when you pay an employee in lieu of notice, PAYE will have to be applied. It is no longer fully exempt from both income tax and national insurance. Payment in Lieu of Notice or PILONs have always been contentious with HMRC as to whether […]

4 Steps For Applying For Probate

Probate can be complicated, in this infographic we show you the 4 steps involved when applying for probate from finding the will to preparing the accounts. If you would like our help to understand the implications in more detail for your specific situation, call us today on 02392 415976 or click on the ‘Request Call […]

Probate

What Is Probate And How We Can Help You

Losing a loved one can be one of the most stressful and emotional times of your life. It therefore seems unfair that during this time you may have the additional responsibilities of overseeing the legal and financial aspects of the deceased’s estate.  You can undertake this process yourself. However, at Babcock Probate we can take […]