Tax - Employment taxes

Recently added Tips & Advice

TERMINATION PAYMENTS - 18.03.2024

Should termination payment have been paid tax free?

The Upper Tribunal (UT) recently had to decide if the First-tier Tribunal (FTT) was wrong in ruling that a payment made on termination of employment was taxable. Why did the taxpayer believe it was and did the UT agree?
Read more

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?
Read more

PROFIT EXTRACTION - 18.03.2024

Avoiding or reversing inefficient profit extraction

The end of the tax year is almost here and it’s time to check your tax position. You may have room to take more tax-efficient income from your company, or you might discover you’ve overdone it. What steps can you take to rescue the situation?
Read more

PAYROLL - 05.03.2024

Termination payments - HMRC clearance

Informal clearance. Employers often struggle with the employee termination payments rules. One reason that employers rarely need to apply them, another is that they are especially tricky. For this reason HMRC has long been happy to give case-by-case advance guidance to employers on request. However, it’s now called time on this practice. ...
Read more

TAX PLANNING - 05.03.2024

Threshold tax and benefit traps on families

The media like to bandy about the phrase “stealth tax”. In reality what they call stealth tax isn’t at all. However, there are genuine cliff-edge income thresholds that result in unfair tax charges. What are they and how can you avoid them?
Read more

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 ). ...
Read more
Tax - Employment taxes

Most read Tips & Advice

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?
Read more

TAX PLANNING - 05.03.2024

Threshold tax and benefit traps on families

The media like to bandy about the phrase “stealth tax”. In reality what they call stealth tax isn’t at all. However, there are genuine cliff-edge income thresholds that result in unfair tax charges. What are they and how can you avoid them?
Read more

IR35 - 06.02.2024

New IR35 legislation published

In his 2023 Autumn Statement the Chancellor announced new rules to prevent potential double charges on income subject to IR35/off-payroll taxes. The draft rules are now out for consultation. What’s the full story?
Read more

See my Tips & Advice in ...


Enjoy full access to my Tips & Advice

Download the App

Cookie policy