If you have a small business and shares are held by family members (including your spouse) and you pay out dividends you would be very wise to have a Settlements Rules Risk Analysis because you are at risk!
This could mean extra tax, interest and penalties. There is a common misconception that following the celebrated Arctic Systems case, small freelancer businesses no longer need to worry about the ‘Settlements Rules’. However, since Arctic five taxpayers running small businesses have been taken to court by HMRC. HMRC won four of these cases outright and partially won the fifth. HMRC are on the lookout for suitable freelancers to investigate. You could be next in line.
Assured Tax Consulting is a specialist tax consultancy headed up by Dave Smith. Dave was on the Arctic Systems legal team and has an expert insight into how the Settlements Rules adversely impact small businesses.
Along with his colleagues Nicola Smith, Sarah Carstens, Kye Burchmore and Andrew Gotch, the Assured Tax Consulting team offers pro-active advice on all aspects of freelancer tax issues including Settlements Rules, IR35, Travelling Expenses and HMRC Powers and Penalties.
For just £260 + VAT (non-PCG price £375 + VAT) and for a limited time, Assured Tax Consulting will undertake a Settlements Rules Risk Analysis of your business, provide a report and tell you whether you have a looming problem and what you should do about it. We will also tell you if there are any legal tax savings you are missing by not splitting dividends the best way.
Contact us today by phone or email and we can check your position and give proactive advice.
P.S. For peace of mind, request a Settlements Rule Risk Analysis today.
Dave Smith, Assured Tax Consulting
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