PENSIONS - 07.07.2020
Pensions auto re-enrolment duties
Many small employers who auto-enrolled staff into a workplace pension for the first time in 2017 are now facing auto re-enrolment. What do you need to know to ensure a pain-free process?
CORONAVIRUS - VAT - 07.07.2020
VAT trap for private use of company vehicles
In the last few months there’s been little work for two of your employees but they’ve continued to have use of their company vans, including for personal journeys. Does this affect what you need to report on your next VAT return?
EXPENSES - 07.07.2020
More news on homeworking expenses
Home equipment. We recently told you about a new tax and NI exemption which applies where employers reimburse an employee the cost of equipment, e.g. a computer, so that they can work at home if they need to because of coronavirus ( yr.20, iss.17, pg.1 , see The next step ). HMRC has now published further guidance which adds an interesting spin to the exemption. ...
LOSSES - 07.07.2020
Tax-efficient incorporation of a loss-making business
You’re about to transfer your sole trader business to a company of which you’re the main director and shareholder. The business made losses in the last trading period before the transfer. How can you maximise tax relief for these?
TAX - BENEFITS - 07.07.2020
Personal use of company stock - the taxable benefit trap
In recent months you’ve taken a number of products and materials from your business. You know there will be a tax bill for this but might HMRC ask for more than you bargained for?
BICYCLE SCHEMES - 06.07.2020
Time for staff to get on their bikes?
With fears about travel, and pressure on public transport to operate effective social distancing measures, there’s been a lot of talk about commuting to work on a bike. Is it time to consider introducing a bicycle scheme at work?