12 tax tips of Christmas

As we head into December, here is a tax take on the 12 Days of Christmas with our twelve top tax tips:

Make sure your company isn’t one of those identified by HMRC as missing on valuable R&D tax credits. Not sure if you qualify? Have a look at some of our recent case studies or better still, get in touch with one of the Radius team.
At this time of year, business owners often reward their staff with Christmas gifts. Find out what staff gifts can be given tax free.
Why not make 2019 the year to turn tax into an opportunity, rather than an endurance? Let's start talking about how you can save tax.
If you haven't yet looked at whether your business is ready for Making Tax Digital, then arrange your free consultation to discuss this with our team of experts. Find our how MTD can present your business with opportunities, in the new year
Businesses generating profits from patented products or processes can pay less tax – talk to us now if you think this might apply to you.
If you have a December year end and aren’t confident you are maximizing your claim for R&D tax relief or patent box – CONTACT US NOW – the deadline to claim relief for the 31 December 2016 year end expires on 31 December 2018 – it’s not too late to act.
Shorts' Radius service helps businesses claim their full entitlement to Government backed tax reliefs for innovation. If you pay technical staff to solve technical problems, then make sure you don't miss out in 2019. View here to learn more.
A number of changes to capital allowances come into effect for qualifying expenditure incurred from 1 January 2019. Find out in advance whether these changes will affect you.
If you are considering the sale of your shareholding in a personal trading company in 2019, then make sure you are aware of the new rules for Entrepreneurs' relief proposed in the last budget. Changes are due to come into force in April 2019.
If the new year means buying a new company car, then make sure you are up to date with the fuel rates for company cars (effective from August 2018)
With time running out, why not spend some time over the Christmas period pulling together all the information to file your self Assessment return early in the new year.
The beginning of the new year is a great time to look at things with fresh eyes. Why not look to see whether there is any tax planning that you could put into place and try to reduce your tax liability for 2018/19.