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HR Expert: Dress Code Requirements

HR l

A client has told me a female employee has failed to wear high heeled shoes or makeup to work several times this week in line with their dress code policy. What should they do about this?”

Many employers will see dress codes as an integral part of their business given that they are often an important way of portraying a desired company image. However, in light of recent events they should carefully consider where certain dress code requirements may be tantamount to discrimination and look to change their policies accordingly.

Warning: Email Scam Targeting Employers

General l

IMPORTANT: We’re aware of a new email scam targeting employers. If you receive an email about P6/P6T forms with an attachment, please forward to phishing@hmrc.gsi.gov.uk.

This email is a scam and the attachment may contain malicious software. Please share this post to warn others.

June 2018 Tax Insider

Tax l

This months edition includes:

– Tenant fees ban set to cost landlords £82.9m
– Businesses call for more government support
– HMRC defers launch of digital accounts for individuals
– Deadline for reporting benefits in kind nears

Download the full PDF here.

Understanding IR35

Tax l

IR35 is the shorthand name for tax rules concerning the provision of personal services through intermediaries.
These rules came into effect on 6 April 2000, but they were signiicantly amended from 6 April 2017 for contracts involving public sector bodies.

Travel and subsistence

Budgets l

Many employees need to travel as part of their job for various reasons, whether it’s acquiring new customers, working with current ones or attending conferences and events.
The system of benefits and taxation surrounding this essential economic activity is classed as ‘travel and subsistence’ in the eyes of the taxman.

Benefit in Kind – Electric cars and claiming home charging tax relief

Businesses, Personal Tax, Tax l

The company provides some employees with Company cars that are hybrids. The employees are also provided with fuel cards that are available for their private use and receive a fuel Benefit in Kind in relation to the car. However, the cars are plugged in and charged at home can the employer offset this cost against the fuel Benefit in Kind?…

Happy New Tax Year!

Accounting, Corporation Tax, Tax/VAT Cases l

Hopefully you should all have now received the tax packs we sent earlier this month and an invitation to complete your checklist online at our website. Remember you also need to complete the tax return supplementary questionnaire online (Click Here). This replaces the paper ones we used to send – reception will send you a paper copy if you prefer.

This year we are trying to get everybody’s tax returns and accounts produced quicker so please complete the forms and send in your books.

HMRC have announced a consultation on Inheritance Tax and are welcoming views. I’ve included a link to a good article in the Telegraph which talks about peoples confusion and fear over the tax (Click Here) and the actual HMRC site if you would like to take part (Click Here).

Personal tax planning

Personal Tax l

Nobody wants the taxman to take more than his fair share, and
planning your finances early on can ensure you adopt the most
tax-efficient strategy for the months and years ahead.
Effective tax planning will help protect your wealth and any assets,
ready to pass on when the time comes, while also providing you
with peace of mind.
Our complex tax system has a variety of reliefs and allowances to
enable you to reduce your tax liabilities with HMRC and help you
navigate your way to a wealthier future, but where do you start?

Download the Full PDF Here

Company Cars

Businesses l

Despite year-on-year tax rises, company cars remain a popular benefit. While the tax cost of expensive high-emission cars can be eye-watering, by choosing carefully it’s possible to enjoy the convenience that comes with a company car for a relatively low tax cost. So, as the new tax year gathers steam, what’s changed for 2018/19?

Download the Full PDF Here.

Landlord Tax Changes

Property l

Recent budgets have seen several significant changes to the taxation of income from letting out residential property. These changes are likely to impact on the taxation of all current property landlords, as well as future decisions as to whether to remain or become a landlord.

Download the full PDF here.

Happy New Tax Year!

General l

We start the merry go round again moving 1 year closer to the introduction of Making Tax Digital on the 6 April 2019.

We are heavily involved in helping our clients bring up to date their bookkeeping onto cloud-based accounts solutions to ensure you have the information available each quarter at a reasonable cost. If you need help or advise in doing this please contact us as soon as possible and we can get you started and include some free training.

With the 25 May looming the whole concept of GDPR – General Data Protection Regulation – is starting to become an issue for all those people who hold data on customers, guests, suppliers, marketing databases and employees. We will write shortly to advise you of what you may need to do and how to do it and where to go to do it. Please don’t think this doesn’t apply to you as nearly every business in the UK will be affected with fines running at 4% of your turnover for non-compliance -the regulator is funded solely by the number of fines they issue!

Finally, this is a great story of how the 6 of April came to be the start of our tax year. Enjoy! Click Here

Happy 2018/19

April 2018 Tax Insider

Accounting, Tax/VAT Cases l

This Months Edition includes:

– Thinktank wants major reform of ‘inefficient’ tax system
– More workers aim to become self-employed
– Small firms not ready for data protection shake-up
– Small businesses ‘hugely’ embrace apprenticeships

Download Here

From sole trader to a limited company

Accounting, Tax/VAT Cases l

With a new tax year almost upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company.

There’s no denying that incorporating a business proved popular in 2017, with Companies House reporting a 7% rise in the number of actively trading companies – bringing the UK total to 1.9 million.

Last year’s statistics also showed this trend is no flash in the pan as the number of actively trading companies increased by around 610,000 since 2010.

If you’re a sole trader who has weighed up the pros and cons and decided to form a limited company, here’s what you need to know to complete the transition.

Downlaod Here

Clipping the wings of phoenix companies

Accounting, Businesses, Law l

Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors. For this reason, it’s perfectly legal to start a new company after an old one has become insolvent.

However, there are a number of rules that surround carrying on a similar business through a new company after the original company has gone into insolvency.

Known as ‘phoenixing’, this practice transfers the business, but not the debts, of the insolvent company to a new company.

But what is the problem with phoenixing, and what does the law say about it?

Download Here

Tax and employee benefits

Businesses, Personal Tax, Tax/VAT Cases l

Most employers choose to recognise the ongoing commitment made by their members of staff by providing various benefits and rewards.

Whether that’s in the form of the Christmas party or it extends to benefits such as a cash bonus or flextime, it all helps to ensure employees feel valued and motivated.

82% of workers feel motivated after receiving some form of recognition from their employers, according to research by the Rewards and Employee Benefits Association.

While that’s all good and well when it comes to looking after your staff, you also need to consider the tax implications of offering attractive employee benefits.

Download Here

Year End Tax Guide 2017-18

Personal Tax, Tax/VAT Cases l

Included in this article:
– PERSONAL ALLOWANCES
– ISAs
– PENSION CONTRIBUTIONS
– INHERITANCE TAX
– CAPITAL GAINS TAX
– NON-UK DOMICILE TAXATION
– TAX CREDITS
– CORPORATION TAX
– BUSINESS DEDUCTIONS
– ENTREPRENEURS’ RELIEF
– VAT
– PENALTIES
– UPCOMING CHANGES

Download Here

Cash basis for landlords

Accounting, Property l

Traders have been able to prepare their accounts using the cash basis since April 2013, as long as they meet certain eligibility conditions.

This option was extended to landlords running unincorporated property businesses from 6 April 2017.

However, while traders must elect for the cash basis, it applies by default to landlords who meet the qualifying conditions.

Click Here to Downlaod

Business Finance

Businesses, Growth l

Raising finance is a crucial but challenging aspect of running a successful business, whether you’re launching a start-up or looking to expand your operations.

You can have the best product in the world, a solid business plan and a comprehensive marketing strategy, but if you can’t access the necessary inance success will be much harder to achieve.

Download Here

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