Businesses

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?…

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?

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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.

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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

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Property Income and Tax

CGT, IHT, Personal Tax, Property l

There are many ways to earn an income from property such as residential properties, furnished holiday lettings, commercial properties and renting out a room in your house.

The exact tax treatment and allowable expenses will differ depending on the type of property you own and your level of income.

De-coding tax codes

Accounting, National Insurance, Payroll, Personal Tax l

Tax-codesA tax code (also known as a PAYE code) appears on every payslip, but do you know what it means and how it is impacting on the net pay you are receiving?

Common tax codes include ‘BR’, ‘1100L’, ‘NT’, and ‘D0’, but what do these mean and what if they are wrong? HMRC expects everyone with a PAYE code to check it but do you and your employees (if you have them) realise this, and know where to start?