Tax Tip – Reduce Tax With Family

Working with family can be a great way of legally reducing your tax bill, but it’s important to make sure that any members of your family that you’re employing are actually capable (and suitable) for the role they’ve been hired to perform – they should also be provided with tasks that are relevant to the role and paid a legitimate fee for the work carried out.

The work should be reasonable, and an affordable business expense – if HMRC feel that you’re claiming costs or expenses (for any employee, not just family), they may decide to initiate an investigation – which can be extremely time consuming and costly.

To help reduce the financial and time burdens of an investigation, as part of our Tax Investigation Service, we offer Fee Protection Insurance, so we can aid with dealing with correspondence, preparing your case (and defending it), and organising the reams of paperwork involved.

If you’d like to find out more  and the different aspects we offer our insurance against (Self-Assessment, PAYE, VAT, etc), then check out our Fee Protection Insurance, and give yourself peace of mind by leaving it to the experts!