Pay Less Tax Newsletter – Autumn 2024 Edition

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.