Now or later....For example, you're probably aware that when an invoice is raised it's usual to include it in Turnover. If the invoice is not paid by your year end, it will increase your Profits for tax purposes. Hopefully by the time the tax is due, normally 9 or 10 months after the year end, you've been paid so you're not losing out on cash flow.

However, you may not be aware that if as a shareholder in your SME company you rearrange your shareholdings by giving away shares to family non-spouse members or employees, tax can be due on you.

That doesn't make sense!

This is a one off tax relief within the new SEIS introduced in March's Budget.

If you have recently exchanged, or expect to before the end of the tax year, eg on a buy-to-let property, and don't welcome the 28% capital gains tax bill, you could take the view that a government subsidy to encourage you to invest your gain in a new company will help you take a risk.

For example, if you sell an asset for £250,000 and make a gain of £50,000, the capital gains tax due @ 28% is £14,000.