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New Workplace Pensions Cost

New Workplace Pensions Cost   Another set of regulations is set to fall on the shoulders of all employers. This time it's a compulsory pension scheme for all employees.  T...
/news/new-workplace-pensions-cost.htm

The cost of driving a ‘greener’ car

The cost of driving a ‘greener’ car The financial benefits of driving a company car have continued to erode over recent years, but this benefit remains one of the most popular and p...
/news/the-cost-of-driving-a-greener-car.htm

Q1. I have five employees who I recently took out for dinner to celebrate the success of the company

Q1. I have five employees who I recently took out for dinner to celebrate the success of the company. The total cost of the meal was £225. Do I have to report this as a benefit-in-kind to HMR...
/news/q1-i-have-five-employees-who-i-recently-took-out-for-dinner-to-celebrate-the-success-of-the-company.htm

Trivial benefits

Trivial benefits Employers will be aware that various changes have been made to the reporting requirements for employee benefits and expenses from April 2016, which mean that some employer...
/news/trivial-benefits.htm

Property rental - Reform to the wear and tear allowance

Property rental - Reform to the wear and tear allowance In relation to expenditure incurred on or after 1 April 2016 (for corporation tax) and 6 April 2016 (for income tax), the existing wear a...
/news/property-rental---reform-to-the-wear-and-tear-allowance.htm

Capital allowances: clarification of allowances for costs of altering land

Finance Bill 2018/19 will include provisions to clarify which expenditure on altering land may qualify for capital allowances for the purposes of installing plant or machinery. Allowances are inten...
/news/capital-allowances-clarification-of-allowances-for-costs-of-altering-land.htm

Capital allowances for structures and buildings

The government will introduce a new Structures and Buildings Allowance (SBA) for new non-residential structures and buildings. Relief will be provided on eligible construction costs incurred on or ...
/news/capital-allowances-for-structures-and-buildings.htm

I own a rental property and let it out on a fully-furnished basis. Can I claim a tax deduction for t

Q. I own a rental property and let it out on a fully-furnished basis. Can I claim a tax deduction for the cost of replacing items as and when needed? A. The government withdrew the 're...
/news/i-own-a-rental-property-and-let-it-out-on-a-fully-furnished-basis-can-i-claim-a-tax-deduction-for-t.htm

Tax Efficient Cars

Tax Efficient Cars There are quite a few types of car which have CO2 emissions of no more than 110g/km; including certain models of the Mini Cooper, Toyota Prius, Smart, and Fiat 500. If your c...
/news/tax-efficient-cars.htm

Capital Allowances for Holiday Lets

Capital Allowances for Holiday Lets Do you own a property that qualifies as a furnished holiday let (FHL)? To qualify the property has to be commercially let for short periods for at least 70 d...
/news/capital-allowances-for-holiday-lets.htm

Gifting Assets or Shares

Gifting Assets or Shares If you plan to gift assets or shares to your relatives, there are several taxes you need to consider: Capital Gains Tax You won't make an actual profit or...
/news/gifting-assets-or-shares.htm

Bookkeeping Made Easy

Bookkeeping Made Easy   Bookkeeping is, some would say, a necessary evil and one that can certainly harm you if you don’t comply with the minimum standards required by HMRC. It c...
/news/bookkeeping-made-easy.htm

VAT Flat rate scheme: changes have taken effect

VAT Flat rate scheme: changes have taken effect The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations. Businesses could often gai...
/news/vat-flat-rate-scheme-changes-have-taken-effect.htm

Offer gym membership or leisure facilities to employees and get tax breaks

In 2016/17, 1.3 million workers suffered from work-related ill-health, which equated to 25.7 million working days lost. This has been estimated to cost £522 per employee, and up to £32 ...
/news/offer-gym-membership-or-leisure-facilities-to-employees-and-get-tax-breaks.htm

Taxable income - Switching to the cash basis

Taxable income - Switching to the cash basis  Many small, unincorporated businesses choose to use the 'cash basis' for working out taxable income. Under this method, participants w...
/news/taxable-income---switching-to-the-cash-basis-.htm
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