VAT - 18.03.2024
Leasing cars - what are the VAT pros and cons?
You’re considering leasing instead of purchasing cars for your business. This will improve cash flow and, according to the salesperson, allow you to reclaim VAT that you would not otherwise be entitled to. Are they correct?
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EXPENSES - 05.03.2024
Overseas business trip with the family - is it taxable?
Our subscriber is making an overseas trip for business and is taking her spouse and two children so they can holiday while she’s working. Her question is, can she put the expense through her company and if so are there any tax considerations?
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CARS - 05.03.2024
New fuel rates for cars and double-cab pickups
Company cars. HMRC’s advisory fuel rates (AFRs) can be used to prevent a taxable benefit in kind for fuel being triggered if an employer provides a car to an employee or director. Note that some double-cab pickups continue to count as cars for tax purposes despite HMRC’s recent attempt to recategorise them as vans (see The next step ). ...
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CARS & VANS - 24.01.2024
When is a vehicle “available” as a company car or van?
After a routine compliance check HMRC is demanding years of back tax and NI plus penalties from our subscriber simply because once every few months an employee uses the firm’s van for work. Is HMRC right or just trying it on?
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VEHICLES - 04.01.2024
EV charging costs - HMRC’s current position
HMRC has changed its guidance on electric vehicle (EV) charging costs. If you followed HMRC’s original guidance, what steps should you take now and how does this impact any tax paid previously?
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CARS - 12.12.2023
New advisory fuel rates for company cars
Changed rates . HMRC has updated its advisory fuel rates (AFRs) for the reimbursement of fuel costs, relating to company cars paid by employers or employees where one pays for fuel that’s properly an expense of the other. The new rates apply from 1 December 2023 but the old rates (shown in brackets below) can be used until 31 December 2023. Tip....
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