Tax Relief brings some Christmas Cheer! As the Christmas season is rapidly approaching here’s a quick reminder of what is tax deductible and what isn’t! Christmas Parties The rules on Christmas parties depend on who is invited… Staff – the main tax implication of staff Christmas parties is whether you need to report the cost…

Date posted: November 23, 2018 | Author: | No Comments »

Categories: Accountancy Tips Payroll and Accounting Tips

Last month HMRC published further information on MTD (Making Tax Digital) to support businesses and agents in the run up to the start of the mandatory MTD VAT service from April 2019. As part of Making Tax Digital, businesses registered for VAT with a taxable turnover above the VAT registration threshold of £85,000 will need…

Date posted: August 3, 2018 | Author: | No Comments »

Categories: Accountancy Tips

There are numerous factors to consider when deciding which method of buying and using a car for business is the most tax efficient.  Sole Traders As a sole trader there is no concept of a ‘company car’ as there is no legal difference between you and your business. There are 2 options for claiming tax…

Date posted: June 22, 2018 | Author: | No Comments »

Categories: Accountancy Tips

With all businesses now reaching their auto enrolment staging date The Pension Regulator is using its powers to establish employers have fulfilled their Auto Enrolment duties. The watchdog issued 11,156 fixed penalty notices between January and March 2018 – up from 7,435 in the previous quarter which shows how serious they are in enforcing everyones…

Date posted: June 8, 2018 | Author: | No Comments »

Categories: Accountancy Tips Payroll Tips

  The start of April brings changes to a number of tax rates and bands…       Allowances Personal Allowance – the personal tax free allowance for UK residents has increased to £11,850. Higher Rate Threshold – the higher rate tax threshold for UK residents has increased to £34,500 (£46,350 including personal allowance). Dividend…

Date posted: April 6, 2018 | Author: | No Comments »

Categories: Accountancy Tips

Assuming the charity is VAT registered it may reclaim VAT on any purchases that are directly related to any VAT-taxable goods or services it sells. However, VAT-Registered charities are quite rare as the vast majority of their income will be exempt and therefore outside the scope of VAT. In the case of non VAT registered…

Date posted: March 16, 2018 | Author: | No Comments »

Categories: Accountancy Tips