In this Autumn edition of the Pay Less Tax newsletter, we explore these key topics:
Growth Guarantee Scheme (GGS):
- A new government-backed finance initiative for small businesses.
- Borrow up to £2 million with up to 70% government-backed guarantees.
- Key eligibility criteria and application guidance.
Director Loans – Section 455 Charges:
- Avoiding costly tax implications for director loans.
- How repayment timing affects company tax liabilities.
- Insights into anti-avoidance legislation.
Foster Carers – Tax Relief:
- Updates on qualifying care relief for foster carers.
- Examples of how financial allowances and tax exemptions apply.
- Support for completing self-assessments and reviews.
LLP Salaried Member Rules:
- Understanding HMRC’s rules for LLP members.
- Key conditions and how to avoid being caught by salaried member status.
- Guidance for reassessing your LLP status.