There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of ‘Private use’ includes employees’ journeys between
Reporting company car changes
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VAT – option to tax property
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent
Assets made available to an employee
Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything
Correcting payroll mistakes
Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other
Tax and working from home
Employees who are working from home may be able to claim tax relief for bills they pay that are work related.
Employers may reimburse employees for the additional household expenses incurred through
Do you need to register for self-assessment?
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have
Government launches new WhatsApp channel
The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones.
As a trusted, verified account the UK
Government steps to secure UK supply chains
Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors.
In a press
Full expensing of capital purchases
A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify for full expensing, expenditure must
Year end payroll reporting
It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores that must be completed. This includes sending a final PAYE submission for the
Reminder to claim the Marriage Allowance
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax
Using the VAT Flat Rate Scheme
The VAT Flat Rate scheme allows businesses to pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to
Bed and breakfast share sales
The term bed and breakfasting (sale and repurchase) of shares refers to transactions where shares are sold and bought back the next morning. This used to have Capital Gains Tax (CGT) benefits by
IHT gifts – 7 year limit
Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as ‘potentially exempt transfers’ or ‘PETs’. These gifts or transfers achieve
A reminder to protect your business capital
The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital.
The downturn in global trade
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