EXPENSES - 21.10.2020
The tax-free benefits of business travel
Handling your employees’ travel expenses claims is time consuming and the tax and NI requirements can be tricky. The good news is that the process can be simplified by paying flat rate tax-exempt allowances. What are they?
VANS - 06.10.2020
Double cab pick-up could be a “car”
HMRC v Coca-Cola (GB) Ltd is a long running case centred on the definition of a company van. This matters because company cars are taxed more heavily than company vans that can be used privately. The case concerns double cab pick-ups that have a second row of seats behind the driver. The Court of Appeal has now determined that multi-purpose vehicles capable of carrying goods and people are more akin to cars than vans and therefore will be taxed as cars. The vehicles in question in this case were a first or second generation VW Transporter T5 Kombi and a Vauxhall Vivaro. ...
COMPANY VANS - 24.09.2020
When is a van a car?
The Court of Appeal has issued a ruling which means that some crewcab vans are to be treated as cars for benefit-in-kind purposes. What was the key finding and what should you warn clients of?
CARS - 24.09.2020
New advisory rates from 1 September 2020
Back to work. With so many employees working from home during the lockdown, it is easy to overlook things like mileage allowance rates. However, with the country slowly getting back to offices and other places of work, it’s a good time to take stock of such things. The advisory rates for company-owned vehicles change on a quarterly basis. ...
EXPENSES - 22.09.2020
Is the cost of travelling to a board meeting tax exempt?
Two directors of our subscriber’s company live over 100 miles from its head office. As they are required to attend board meetings there, can the company reimburse or pay their travel and accommodation expenses tax and NI free?
CARS - 22.09.2020
Advisory fuel rates updated
New rates. HMRC has updated its advisory fuel rates (AFRs) for company cars from 1 September 2020. The old rates (shown in brackets in the table below) can be used until 30 September 2020. To avoid a car fuel benefit charge, employers and employees can compensate each other at the appropriate AFR for the cost of fuel paid for by the other. Because of variation in fuel prices across the UK you may prefer to work out your own fuel rates. HMRC will accept these as long as they are reasonable. ...