With the UK Government being committed to ending the sale of new petrol and diesel vehicles by the end of 2035 the current tax regime for cars is naturally favourable for zero and low emission vehicles. A summary of the main low emission vehicle tax benefits is provided below.   […]

Tax On Social Media Earnings Increasingly more and more people are turning to YouTube and other social media platforms to supplement their existing income, or to start a new career. There are many considerations you need to make when moving into this field, such as what type of content will […]

The question is:  Are ransom payments made by a business to access its IT systems tax deductible? Everyday more and more news reports highlight the threat ransomware and cyber terrorism impose on our institutions and businesses.  Workplaces are increasingly dependent upon IT systems and infrastructure and data breaches have a […]

In the UK, dividend waivers are a mechanism that allow a shareholder to give up their right to receive a dividend payment from a company. This can be done for a variety of reasons, such as, to reduce the company’s tax liability or to distribute profits in a more tax-efficient […]

Most people are aware that if you get a company car as part of your employment, the car will create a taxable benefit in kind. The employer is probably not going to be able to recover any VAT on its purchase either because HMRC will usually view that it is […]

Time for a more light-hearted look at some unusual (or useless!) tax facts as we approach the end of the alphabet! with our A-Z tax blog series. Weird and wonderful facts: One of the first recorded taxes in the UK was the Danegeld, a tax on Anglo-Saxon landowners to pay […]

The UK tax year runs from 6 April to 5 April of the following year. Here are some end of year tax planning tips: Make use of ISA’s – these accounts allow you to save and invest tax-free so consider making use of your ISA allowance before the end of […]

Over the past two years, limited companies have been able to claim an advantageous Capital Allowance on qualifying assets, providing tax relief of up to 130%. This super deduction, as it is known, will soon be withdrawn, however. It is only available on qualifying expenditure incurred on or between 1 […]

Repairs and Renewals   A distinction is drawn between repairs and improvements when considering if tax relief is available.   The general rules are that:   Expenditure on restoring an asset to its original state is revenue in nature and so allowable in calculating taxable trading profits; and   Expenditure […]

While you may have revelled the thought about finishing your qualifications at school/college/university, for a lot of people learning continues far beyond the conventional educational institutions. Work-based learning to ensure you keep your own or your employees’ skills as up to date as possible has become the norm, with many […]