In the 2020/21 tax year, just ended on 5th April 2021, as an employee you may have received extra support from your employer to enable you to continue to work. HMRC introduced a number of concessions so that these necessary support measures are not taxable benefits for employees. They include, […]
Category Archives: Taxable Benefits
25
May
May
Not many businesses operate without a bit of bad debt, although hopefully it is just the odd one! However, for tax purposes, there are different rules depending on the tax involved. VAT Relief On Bad Debts There are detailed instructions for VAT relief on bad debts which is set out […]
18
May
May
There are numerous accounts of tax officers trying to tax the provision of tea and coffee for employees, and whilst some of these amount to an urban myth, the tax rules about providing a bacon (or vegan alternative) sandwich for your employees as a trivial benefit are not straightforward. HMRC […]
17
May
May
Whether you’re environmentally conscious or just after something practical – the choice of electric car models has skyrocketed over the last year or so. More and more well-known brands have launched their own take on electric cars to try and complete with the market leader – Tesla. Not only is […]
05
May
May
“Should I get a company car?” is probably one of the most asked questions we receive. The fundamental answer revolves around tax efficiency and sustainability. A company car is a way your company can pay you back for your hard work, but you should also consider the purpose and values of […]
16
Mar
Mar
The principle behind our Business Accelerator service is the “Now, Where, How” framework, which helps businesses and individuals facilitate growth by working through three questions. This can be universally applied to clients who are eligible for Research and Development claims: Where are we right NOW? WHERE do we want to […]
Blog, Business, Tax, Taxable Benefits, Uncategorised
Tapered annual allowance – will high earners contribute more?
09
Mar
Mar
The 2020 Budget increased the scope for many high earners to make a bigger pension contribution in the tax year ending 5 April 2021. The annual allowance income limit was increased to £200,000, significantly reducing the number of people affected by the tapered annual allowance. The availability of a full […]
15
Feb
Feb
With a little glowing light at the end this long tunnel, we want to bring hope and open your eyes to tax advice options that until now you might not have considered for your business. More options than you realise. You’re probably feeling like you’ve exhausted all of the support, […]
05
Jan
Jan
For tax professionals, the idea of escaping to some Spanish sun in January is a pipe dream, even in non-Covid times, as we grapple with the personal tax return submission deadline. And with Spain on the brain, we are advising clients to be aware of changes to EU tax […]
30
Nov
Nov
HM Revenue & Customs have slightly changed the requirements for claiming the third tranche of the SEISS compared to the previous two tranches – but the result may have a major impact on the self employed’s ability to claim the SEISS. When claiming the first two SEISS grants the […]