Tax - Employment taxes

Recently added Tips & Advice


Setting tax-efficient salary - don’t be too quick on the draw

As a director of your small company you have complete autonomy over when and how you are paid. What do you need to consider before committing your company to a salary if cash is tight?
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SELF-ASSESSMENT - 29.11.2023

December deadline for tax returns

Apart from the well-known 31 October and 31 January deadlines for self-assessment returns, there’s one in December too. What is it and why might it matter to you?
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HMRC invites claims for NI refunds

HMRC concedes defeat. Following its defeat at the Upper Tribunal (UT) ( yr.23, iss.21, pg.5 , see The next step ), HMRC has issued a statement which seems to lay to rest its long-running dispute with employers who pay their employees’ car allowances . The statement accepts the UT’s ruling that the allowances can be disregarded as earnings when calculating NI contributions. ...
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Avoid problems with directors’ trivial benefits

Your client has been warned by HMRC that low value benefits given to directors may not be covered by the exemption for trivial benefits. They are sceptical, and have asked you whether this is the case. What can you advise?
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HMRC amends rules for job expenses claims

New form. HMRC has updated its job expenses claim Form P87 . The amended form will available early in 2024 and must be used instead of the current version for claims made on or after 26 February 2024. In early November 2023 HMRC also changed the criteria for using the form. ...
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INCOME TAX - 14.11.2023

HMRC updates list of approved subscriptions

Professional and trade bodies. Directors and employees who pay fees for membership of professional bodies or other organisations connected to their jobs may be entitled to a corresponding tax deduction. HMRC allows tax relief for subscriptions if the organisation appears on its List 3. It regularly reviews the list to add and remove organisations. Its latest version was published at the end of October 2023 (see The next step ). Paid by employer....
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Tax - Employment taxes

Most read Tips & Advice

EXPENSES - 05.09.2023

Deductible director’s entertainment - too good to be true?

You’re the sole shareholder and director of a growing trading company. It’s been a good year and you want to celebrate in style with the employees who helped. Will HMRC allow tax relief if you put the expense of entertaining everyone through the business?
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BENEFITS - 05.09.2023

Is there a financial benefit to benefits in kind?

You’ve been approached by a firm selling employee benefits schemes. They claim your employees will be better off if you pay some of their salary in benefits, which in turn helps with your staff costs. You thought such schemes were outlawed by HMRC. Can they still work?
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CARS - 05.09.2023

HMRC’s latest advisory fuel rates

New rates. HMRC’s advisory fuel rates (AFRs) have risen slightly from 1 September 2023. As usual, you can use the old rates until 30 September 2023. The table shows the AFRs from 1 September with the previous rates in brackets. Engine size Electric per mile Petrol per mile LPG per mile Diesel per mile Up to 1,400cc - 13p (13p) 10p (10p) - 1,401cc to 2,000cc - 16p (15p) 12p (12p) - Up to 1,600cc - - - 12p (12p) 1,601cc to 2,000cc - - - 14p (14p) Over 2,000cc - 25p (23p) 19p (18p) 19p (18p) N/A 10p (9p) - - - ...
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