BENEFITS - 17.04.2024
The tax advantages of benefits in kind
Your company is doing especially well and you want to take advantage of its good fortune. The priority income you take should be tax efficient. Why might benefits in kind be your best option?
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INCOME TAX - 17.04.2024
Deadline for child benefit tax
Changes to the high income child benefit charge mean some couples will pay less tax. Others can also benefit but must take steps to do so. What’s required and when?
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TERMINATION PAY - 03.04.2024
Compensating a departing director or employee
A dispute in the boardroom has resulted in one of the directors resigning from the firm. A financial settlement has been agreed to prevent the departure becoming acrimonious. Can the company apply the £30,000 exemption to the payment?
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EXPENSES AND BENEFITS - 03.04.2024
Celebrating a company milestone and the tax consequences
Our subscriber’s company is celebrating 25 years in business with small gifts to customers and a party for its staff. What tax deductions is it entitled to for the extra costs it incurs?
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COMPENSATION - 03.04.2024
Post office compensation - what’s the latest?
Compensation ins and outs. We recently told you about the tax rules for business compensation payments ( yr.24, iss.8, pg.2 , see The next step ) in light of the Post Office Horizon scandal. The tax treatment for the recipients of compensation is now the subject of new legislation. ...
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EXPENSES - 02.04.2024
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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