Paying PAYE by recurring direct debit
Employers must act as a tax collector for HMRC, deducting tax, National Insurance and, if applicable, student loan deductions, from their employees’ pay and pay
Employers must act as a tax collector for HMRC, deducting tax, National Insurance and, if applicable, student loan deductions, from their employees’ pay and pay
Regardless of the business structure (for example limited company or sole trader) it is possible to employ family members. This has some obvious advantages including
In June 2020, the Government announced that it was making funding available to customs intermediaries and businesses to help increase their capacity to make customs
Tax relief on business-related loans Subject to certain conditions and restrictions, tax relief will generally be available for interest paid on loans to, or overdrafts
Can we deduct entertaining expenses? The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the expenditure
Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax
Using your car in your property rental business Landlords will often use their car for the purposes of their property rental business. Where they do
When is a car a pool car? Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and
VAT refunds for DIY builders If you build your own house or convert an existing property into a home, you may be eligible to apply
Optimising tax-free benefits in family companies Making use of statutory exemptions for certain benefits-in-kind offers an opportunity to extract funds from a family company without
Are low emissions cars tax efficient? Significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs).
Just starting outAs long as HMRC can be satisfied that a business is being run on a commercial basis with a view to making a
Furnished holiday lettings – is it worth qualifying? When it comes to taxing rental income, not all properties are equal. Different rules apply to properties
At first sight, the calculation of a capital gain or loss on the disposal of an asset is relatively straightforward – simply the difference between
Entrepreneurs’ relief is intended to reduce the rate of capital gains tax to a flat rate of 10% on certain qualifying business disposals. Certain aspects
Rent-a-room relief was introduced to encourage people to let spare rooms in their own home in order to increase the supply of low-cost rental accommodation.
The cash basis is a simpler way of working out taxable profits compared to the traditional accruals method. The cash basis takes account only of
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