Pay Less Tax Spring 2023

In this Spring edition of the PayLessTax newsletter, we look at the following

• Mitigating Inheritance Tax with Freezer/Growth Property Strategy: Freezer/growth property inheritance strategy helps property investors mitigate inheritance tax by using a corporate vehicle to freeze their shares and grant growth shares to their children, allowing the increase in company value to fall outside the parent’s estate.
• Navigating Corporation Tax Changes and Associated Company Rules: Changes in corporation tax rates and associated company rules will affect tax liability, requiring companies to adapt their planning strategies, like adjusting accounting dates or merging companies, to mitigate the impact.
• Boosting State Pension for Relatives with Child Benefit NI Credit Transfers: Parents can transfer their Child Benefit NI credit to a UK resident relative caring for their child under 12, allowing many potential caregivers, such as grandparents or siblings, to claim additional state pension they might be entitled to.
• Incentivizing Key Employees through Enterprise Management Incentive Scheme (EMI): The Enterprise Management Incentive Scheme (EMI) allows employers to incentivize key employees by granting them the option to acquire shares in the company at a later date for a set price, with both the company and employee benefiting from tax breaks and share value increases.