Gen Alpha – The biggest change to business in a lifetime!
From Millennials to Gen Z Most of us have heard of the challenges of Millennials in the workplace. However, with the oldest Millennial rapidly approaching 40 (those born...
The Tax Gap
HMRC released their latest report on the tax gap in June. The tax gap is the perceived difference between how much tax revenue should be paid, in accordance with relevant...
Advisory Fuel Rates from 1 December 2019
The advisory fuel rates that apply from 1st December 2019 for company car drivers have been published by HMRC! Hybrid cars are treated as either petrol or diesel cars for this...
Research & Development (R&D)
A study by an independent organisation concluded recently that there was approximately £84 billion in unclaimed research and development relief. Consequently, I am seeking to...
Maternity Pay and Paternity Pay
Statutory Maternity Pay When you wish to take time off to have a baby and are employed, you should get either Maternity Leave or/and Maternity Pay. Please tell your Employer...
Think Tomorrow, Plan Today!
Inheritance Tax and Estate Planning Seminar Our November seminars will be focusing on the important topics of Inheritance Tax & Estate Planning... Speaking will be...
Implementation of VAT Reverse Charge mechanism for UK construction services delayed until 1 October 2020
Implementation of the VAT Reverse Charge mechanism for UK construction services has been delayed until 1 October 2020. What is this? A planned change to VAT procedures...
Advisory Fuel Rates from 1 September 2019
The advisory fuel rates that apply from 1st September 2019 for company car drivers have been published by HMRC! You can still use the previous rates up to 30 September 2019....
Director’s and personal tax returns
For years HMRC insisted that a director must register for self-assessment and complete a tax return even if there was no income to report. This was not a legal requirement,...
Capital Allowances
Three changes of note were announced in the 2018 budget, each with different implementation dates; 1. The special writing down allowance rate has been reduced from 8% to 6%...
Directors’ overdrawn loan accounts and repayment of section 455 tax
If a director’s loan account has been repaid and the previous section 455 tax can be reclaimed (25% of the amount ‘loaned’ up to 5 April 2016, 32.5% from 6 April 2016) there...
Use of company assets
Beware of having the benefit of the use of a company asset such as a helicopter or private aircraft. In the past employees were only taxed at 20% of the asset value rule for...