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Workplace Charging Scheme: The UK Government is now offering help to businesses with the upfront costs to install charge points.
As an employer providing business or private expenses for your employees, you have certain tax, National Insurance and reporting obligations.
Normally a residential rental property would be subject to a 28% capital gains tax (CGT) rate on its disposal. However, if it qualifies as a furnished holiday let (FHL) then the capital gains tax rate can be reduced to 10% by taking advantage of Business Asset Disposal Relief (BADR). It may be possible to make a non-FHL into an FHL for the two years prior to disposal and then enjoy BADR on the whole gain.
Please see below for the diary of main tax events – June/July 2022. If you need help with meeting these deadlines we are here to help.
Unbelievably there were very few changes to the HMRC advisory fuel rates from
When a married couple or civil partners separate, tax planning is understandably not at the top of the list of their thoughts. However, a ‘no gain/no loss
Many employers and employees have been putting in place salary sacrifice arrangements to give up some of their contractual salary in exchange for additional pension contributions or an electric company car.
The Employment Allowance (EA) is a £5,000 allowance set against employer National Insurance Contributions (NICs) and has to be claimed each tax year by qualifying employers.
P11D forms for reporting expenses and benefits in kind provided to employees and directors in 2021/22 need to be submitted by 6 July 2022.
The shortage of semiconductors has meant long delays in the delivery of new cars. This has caused many company car drivers to choose a second hand car instead, but what are the tax consequences?
The Employment Allowance (EA) is a £5,000 allowance set against employers National Insurance Contributions (NICs) and has to be claimed each tax year if the employer qualifies.
Treasury Starts Conversation to Reform UK Capital Allowance Regime
High energy usage businesses, such as steel and paper manufacturers, are set to receive further support for electricity costs as the UK government has confirmed details of the Energy Intensive Industries (EII) compensation scheme.
As the 2021/22 tax year has now ended, employers need to carry out the following end of year procedures
Please see below for the diary of main tax events May/June 2022. If you need help with meeting these deadlines
HMRC have been consulting on changes to the relief from HMRC have been consulting on changes to the relief from stamp duty land tax (SDLT)
The Annual Tax on Enveloped Dwellings (ATED) was introduced in April 2012 and is charged where certain residential properties are owned within a corporate structure.
Reimburse private fuel for your company car? Unless there is full reimbursement of fuel provided for the private use of a company car
The 130% super-deduction for companies that invest in new plant and machinery applies where the expenditure is incurred between 1 April 2021 and 31 March 2023.
In the March 2021 Budget, it was announced that the normal one year carry back for trading losses would be extended to three years.
Many in the hospitality sector were hoping that the Chancellor would extend the 12.5% reduced rate that has applied since 1 October 2021 but, as scheduled, the rate has reverted to 20% from 1 April 2022.