Insights

Browse 258 Insights about Tax

Workplace pension contributions rise takes effect 12 Jun 2019 Employment, Tax - From April 6 2019, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%.
PAYE Settlement Agreements: The Basics 13 May 2019 Employment, Tax - To set up a new PSA, it is necessary to write to HMRC setting out the benefits and expenses to be included within the PSA. Once HMRC have agreed the PSA, they will send two draft copies of form P626.
Trivial Benefits – How to provide small Tax-Free Gifts to your Employees 9 May 2019 Employment, Tax - Since 6 April 2016 employers can provide trivial benefits such as small gifts and entertainment without having to include these within PAYE settlement agreements or disclose on P11D forms.
Claiming R&D Credits: the caveats 29 Mar 2019 Fundraising, Tax, Tech - R&D Tax Credits are designed to be even more favourable for loss-making companies, as the qualifying expense needs to be enhanced before calculating profit or loss for R&D Credits purposes.
Trading whilst insolvent, what are the consequences? 29 Mar 2019 Bookkeeping, Tax - In order to try and avoid personal liability when trading whilst insolvent, it is vital that directors seek professional advice as soon as possible, and initiate preventative measures in order to protect themselves.
Directors’ NICs – the correct way to pay 29 Mar 2019 Tax - Company directors often have greater scope to influence the time and amount of payments they receive as earnings. They have the possibility to avoid primary Class 1 contribution liability by astute use of the earnings period rules.
Employees – claim a tax deduction for expenses 20 Mar 2019 Employment, Tax - Employees may be able to obtain a tax relief on expenses that are not covered by their employer, when these are incurred "wholly, exclusively and necessarily in the performance of the duties of the employment."
Overdrawn director’s loan accounts 11 Mar 2019 Bookkeeping, Tax - When running a business the directors, might need borrow money from the company or vice versa. These transactions should be tracked via the director’s loan account.
The CGT annual exemption – use it or lose it! 11 Mar 2019 Deadlines, Tax - The most common method to minimise Capital Gains Tax liability is to ensure that the annual exemption is fully utilised.
Tax-Free Health & Fitness Benefits For Your Employees 6 Mar 2019 Employment, Tax - Employers are allowed tax breaks and exemptions to offer health and fitness at work, in order to prevent work-related illness and injuries.
What can be done with business losses? 6 Mar 2019 Bookkeeping, Tax - There are different kinds of relief that can help your early stage business reduce your losses.
Director’s loan accounts: recording personal expenses 25 Feb 2019 Bookkeeping, Tax - Expenses and cash payments incurred on behalf of a director can look ambiguous to HMRC, so it's very important to keep accurate records of all your transactions.