18 - September 2019There are five conditions that need to be met to get the tax benefits of a pool car.
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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 have a number of cars available for use by employees when they need to undertake a business journey. From a tax perspective, provided that certain conditions are met, no benefit […]
17 - September 2019Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans.
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Payroll – how to deal with new starters From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter. For 2019/20 an employer needs to operate PAYE where the employee earns more than £118 per week (the lower earnings limit for National Insurance purposes). However, […]
14 - September 2019If you’ve received a tax calculation or simple assessment from HMRC, don’t assume that it’s correct – HMRC can and do make mistakes.
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Check your tax calculation Each year HMRC undertake a PAYE reconciliation for employed individuals who are not required to submit a tax return to check that the correct amount of tax has been paid. Where it has not, HMRC will send out either a P800 tax calculation or a PA302 simple assessment. P800 tax calculation […]
11 - September 2019Inspired by Grand Designs? You are entitled for a VAT refund if you build your own home.
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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 for a VAT refund on building materials and services. You do not need to be VAT registered to claim a refund. What qualifies? Refunds can be claimed in respect of […]
09 - September 2019Today’s blog covers the serious curtailment to letting relief for landlords coming April 2020 – read more here.
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Curtailment of letting relief Landlords have been hit with a number of tax hikes in recent years, and this trend shows no signs of abating. From 6 April 2020, lettings relief – a valuable capital gains tax relief which is available where a property which has at some point been the owner’s only or main […]