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 […]
Tag Archives: Tax Advice
27
Mar
Mar
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 […]
24
Mar
Mar
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 […]
20
Feb
Feb
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 […]
14
Nov
Nov
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 […]
Blog, Business, Tax
How will the basis period reform affect how my business profits are taxed from 2023/24
25
Oct
Oct
Are you one of those unincorporated businesses that don’t have a 31st March or 5th April Accounts year end? Then beware, following the basis period reform, the tax man wants more tax from you, and you may already be taking decisions and earning profits that will lead to that increased […]
16
Jun
Jun
Of the many tax obligations people must consider, one of them is whether you need to become registered for VAT. VAT is chargeable on: any supply of goods or services; made in the UK; where it is a taxable supply; made by a taxable person; in the course of furtherance […]
17
May
May
One of the popular questions we get asked is about the provision of free eye tests and glasses by employers. Currently, the Display Screen Equipment (DSE) Regulations state that, if you are a regular user of visual displays and need an eye test, your employer must pay for the […]
09
May
May
In our previous blog, Inheritance Tax Exemptions – Christmas is a time for giving, we explained some of the main exemptions available to reduce your estate and any IHT liability it may attract. One such exemption, which is potentially the most valuable, is that of “Normal Expenditure out of Income”. […]
25
Apr
Apr
With the digital age well and truly upon us, along with the introduction of agile working during the pandemic, more and more employers need to provide their employees with the correct tools to carry out their work. One such tool is that of communication, whether that entails texting a colleague […]