Changes to the annual investment allowance and the introduction of the super-deduction tax policy have had a big impact on tax allowances. Keep up to date here! The annual investment allowance (AIA) increase has been a blessing for many businesses when looking to weather the pandemic. If you’re unfamiliar, the AIA is a tax relief […]
The tax system can seem very overwhelming for business owners, with so many different tax allowances, tax rates, tax bands. From Personal Tax and Corporation Tax to R&D and Capital Gains, there’s a lot of different figures you may need to refer to. Lucky for you, we’ve put them all in one place here for […]
Around this time of year, we are often advising clients on the different tax-efficient ways to treat staff, and usually, that includes the annual Christmas party. The 2020 festive season is going to look a little different, as the usual Christmas ‘do’ is off the cards. In a ‘normal’ year, you don’t have to report a party or social event to HMRC for tax purposes, as long as it meets […]
Unsurprisingly, HMRC has announced how they will be cracking down on fraudulent grant claims. Due to the speed and urgency that claims were made and issued, there are likely to be a number of innocently miscalculated grants and HMRC is requesting that businesses double-check their calculations and notify HMRC within 90 days of receiving any […]
My employee didn’t use their company car during lockdown – does this mean the benefit in kind stops?
After months of lockdown, many of us have seen a noticeable decrease in petrol costs as cars have stayed stationary on driveways, and workers across the country have swapped the daily commute for days working at the dining room table. If you have staff with company cars who have been working from home or furloughed, […]
There are signs you can look for to help spot possible bogus communication from HMRC
Electric vehicles are rapidly changing the face of the automotive industry, and with the impact of increased accessibility and environmental awareness, the amount of electric vehicles globally reached 5 million by the end of 2018, compared with just 14,260 in 2010*. The Committee on Climate Change (CCC) has proposed a recommendation to the UK government regarding electric […]