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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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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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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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 ). ...
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EMPLOYEE EXPENSES - 08.02.2024
Potential to reclaim overpaid NI on car allowances
A 2023 tax case introduced a change in the way that NI is charged on car allowances. If you pay your employees flat rate car allowances, what do you need to know?
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COMPENSATION - 24.01.2024
Has Post Office wrongly claimed tax relief for compensation?
It’s been widely reported that the Post Office wasn’t entitled to tax relief for compensation it expects to pay to sub-postmasters. If that’s the case, might you be in trouble with HMRC if you’ve ever claimed relief for compensation paid to a customer?
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