Blog

capital gains tax

Do your shares qualify for Entrepreneurs’ Relief?

17th October | Posted in: PAYE & NI, Planning

In order for a shareholder to qualify for Capital Gains Tax (CGT) entrepreneurs relief on the disposal of their shares, they must be an officer or employee of the company (or group) and hold 5% or mor...

spouse wages

Are spouses’ wages fully deductible?

11th October | Posted in: Allowances, Government Announcements, PAYE & NI, Payroll, Regulations

HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC th...

employee benefits

Reporting expenses and benefits provided to employees

9th October | Posted in: Allowances, Government Announcements, Regulations

HMRC have recently updated their toolkit dealing with the reporting of expenses and benefits provided to employees and directors in the light of significant recent changes in this area.  These toolki...

disbursements

VAT on disbursements- An update

5th October | Posted in: Professional Services, VAT

Many professional service firms are involved in recovering disbursements.  Provided certain conditions are met, professional service businesses will not need to apply output VAT to a disbursement. In...

Trivial benefits

2nd October | Posted in: Company News, Government Announcements, PAYE & NI

Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied:  the cost of providing the benefit does not exceed £50; the benefit is not cash ...

new business

Auto Enrolment for a new business

28th September | Posted in: Auto enrolment, Company News, Payroll

The 7 Steps to Auto Enrolment for a new business Any new business from 1st October will not have a staging date – instead they will have an Auto Enrolment Duties Start Date. As soon as a new bus...

VAT returns online

Reporting VAT online – aren’t we doing that already?...

26th September | Posted in: Business Tax, Government Announcements, Property Investment, Regulations, VAT

We have previously confirmed that the government announced the delay of Making Tax Digital for Business (MTDfB) to 2020 at the earliest but that quarterly VAT reporting, using the new system will be m...

HR Policies and procedures

UK Supreme Court decision quashes Employment Tribunal fees – a...

25th September | Posted in: Government Announcements, Payroll, Planning, Regulations

The last six weeks or so has been a busy news period between Brexit, on the one hand, Hurricane Irma on the other and the usual headline grabbers of record-breaking transfer fees and footballers’...

R & D

Is your company carrying out research and development?

20th September | Posted in: Business Tax, Planning

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D).  Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D...

company car

Thinking of changing your company car? What about a hybrid next?...

20th September | Posted in: Allowances, Business Tax

The next Finance Bill will include legislation to reduce significantly the taxable benefit on the provision of low CO2 emission cars from April 2020. From 2020 there will be a 2% benefit in kind for c...

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