When the going gets tough, the taxman gets tougher

The headlines can make it feel as though hanging on for dear life is the only thing left to do in this economy. However, the same economic cycle that's brought us to this point can bring up some useful opportunities for those that spot them.

Some planning now can put you in the best position to take advantage of these possibilities, and perhaps help while hanging on now. This is the third in a series of alerts in which we consider ideas and strategies for making tax work for you. The first alert concerns introducing, or expanding, share-based incentives for employees. The second - getting cashback from HM Revenue & Customs.

Read Wragge & Co's latest tips for action to help businesses prepare for HMRC's tough tactics.