Tax Relief on Life Insurance

This is a guest blog from Rachel Isles of



In these difficult times a lot of businesses are looking to cut costs to improve profitability, or even just survive.  Well here’s a helping hand from the taxman that not many know about.  It’s not been widely publicised but business owners now have an opportunity to claim corporation tax relief on their own personal life cover.


–         You must be an employee (P.A.Y.E.)

–         Term must not extend past age 75

–         Cannot include critical illness or terminal illness




–         Payments made by the Company with no Benefit-in-Kind charge back to you (P11D)

–         No National Insurance implications

–         Tax relief as a business expense

–         Benefit paid tax free to beneficiaries


“Cut the cost of your life cover by up to 50%!”


If you would like more information on how this valuable tax concession can be arranged then please contact:


Rachel Isles

IFA Partner – Positive Solutions


07411 209193


(Always happy to talk things through if you have a general enquiry – Initial meetings are free of charge and without obligation).


Will the changes to child benefit affect you ?

Although the proposed changes will not be implemented until 7th January 2013, it is estimated that 1.2 million people will be affected by them.

Here is a brief summary :

Who is affected ?

Households claiming child benefit, where the income of an individual or partner exceeds £50,000 per year.

HMRC will be writing to taxpayers with income above £50,000 in the autumn.

What are the changes ?

A new income tax charge will apply to those earning over £50,000, which will either reduce or remove the financial benefit of receiving Child Benefit.

Income between £50,000 and £60,000 will result in a gradual charge in proportion to the Child Benefit received.

Income over £60,000, the amount of the charge will equal the amount of Child Benefit received. The amount of Child Benefit payable will be unaffected by the new tax charge, but basically the charge will cancel out the benefit received.

How will it be collected ?

The amount of the charge will be collected through self assessment (SA) and PAYE. Individuals who think they may be affected by these proposals do not need to do anything now.

Additional information. 

For further information please see HMRC Child Benefit Tax Charge info


Is Your Business Running on Empty?

Are you finding it a struggle to get paid and receiving letters from creditors threatening to put your account on stop ?

Loans not an option ?



Today we have the priviledge of sharing a guest blog from Mr Jonathon Willder of which may be able to offer a solution.

Single Invoice Discounting – helping you with Cash Flow .

Effective cash management is crucial to your business success. Access to cash when needed has been satisfied traditionally by a number of funding sources, be it a bank loan, a bank overdraft or a factoring /invoice discounting facility. And asset finance providers have done their bit too, helping you to match the costs of running your business with the revenue streams thus generated.

And now, just when the banking world seems to be retreating, a new cash flow option has arrived in the form of Single Invoice Discounting. So when your bank’s computer says “no” to your overdraft or loan request, or where the terms of a full factoring / invoice discounting option prove inflexible or inappropriate, there is a new, simple and flexible option available to you.

If you have a debtor due to pay in, for example, 30 days time but you have need for cash in your bank before then, why not sell that single invoice and receive up to 90% of the invoice value now to enable you to access cash now? Then, when the invoice is paid, you will receive the balance of the invoice less an agreed fee. There are no arrangement fees, no exit fees and there is no contract period. You simply pay for the money advanced for the period that you need it.

Single Invoice Discounting

Key Benefits:
•a simple, quick and flexible product to solve short term cash flow problems
•transparent, easily controlled costs – no “pre-transaction” charges
•available to all sorts of business whatever stage of development
•no industry exclusions (including construction)
•no pre-requisite for a strong balance sheet or a long history of successful trading
•no ongoing contractual obligation

Key Features:
•up to 90% advance against individual invoices or groups of invoices
•one-off, repeatable transactions
•ideal for businesses with lumpy/occasional need for cash flow support
•available to businesses where bank unwilling to increase exposure
•very low maintenance/reporting requirement
•asset sale so “off balance sheet” – never a loan

•no set-up, arrangement, maintenance or any other fixed costs
•all charges rolled into a single percentage charge based on amount advanced
•daily calculation of charges
•competitive rates vary according to circumstances
•a pay-as-you-go facility which only carries a cost when money is out

•initial account set-up normally completed in less than 5 days (no cost)
•individual transactions completed within hours
•Multiple drawdowns and early redemption permitted (at no extra cost)

For further information on this subject please contact:

Jeremy Lawrence
07970 596571

Jonathan Willder
07712 778490