Tax - Expenses

Recently added Tips & Advice

BENEFITS - 07.07.2022

Is your summer staff party tax and NI free?

You’re thinking of holding your first ever summer event for your employees. You’re not sure what form it will take but one factor in your decision is the cost and therefore the tax and NI position. What do HMRC’s rules say about this?
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EXPENSES - 06.07.2022

Travel expenses between UK and overseas workplace

You’re sending one of your employees to mainland Europe for a job that will take several months to complete. What’s the tax and NI position if you pay for a return trip to the UK for purely private reasons?
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EXPENSES - 28.06.2022

Working from home expenses

Homeworking expenses. For the 2020/21 and 2021/22 tax years HMRC allowed employees (including directors) who were required to work from home because of the pandemic to claim a tax deduction of £6 week towards their additional household costs. This relaxation of an existing concession came to an end on 5 April 2022. Consequently, HMRC has made changes to some but not all employees’ tax codes to remove the working from home deduction. ...
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EXPENSES - 28.06.2022

Uncover extra tax relief on your travel expenses

Your firm’s policy is to pay the HMRC-approved mileage rates to staff who use their own vehicles for business journeys. However, HMRC’s definition of business mileage can mean that an additional tax deduction can be claimed. When might this apply?
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EXPENSES & BENEFITS - 21.06.2022

2021/22 P11D filing deadline fast approaching

The deadline for submitting the 2021/22 P11D forms is 6 July 2022, and it usually falls to the payroll team to complete these. What do you need to be aware of this year?
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COMPANY TAX - 14.06.2022

Writing off a loan to a company

A few years ago you lent your son money to help get his new business off the ground. It’s now established but he can’t afford to repay you. You decided to waive the loan but are there any tax consequences you need to be aware of?
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Tax - Expenses

Most read Tips & Advice

PROPERTY - 31.05.2022

Tax deductions for new landlords

Our subscriber is preparing accounts for the first year of his property rental business during which he spent a lot of money getting the properties ready for letting. His question is how much of the expenditure is tax deductible?
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PAYE RETURNS - 09.06.2022

P11Ds - what’s new for 2021/22?

HMRC recently published its latest guidance regarding the reporting of employee benefits and expenses for 2021/22. As an employer, what do you need to know?
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EXPENSES - 28.06.2022

Working from home expenses

Homeworking expenses. For the 2020/21 and 2021/22 tax years HMRC allowed employees (including directors) who were required to work from home because of the pandemic to claim a tax deduction of £6 week towards their additional household costs. This relaxation of an existing concession came to an end on 5 April 2022. Consequently, HMRC has made changes to some but not all employees’ tax codes to remove the working from home deduction. ...
Read more

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