Leaving aside tax planning issues all businesses should be considering business planning opportunities if they presently have an accounting year end date of 31 March 2024. For example: Do directors need to review year end bonuses or final
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be
Employees who are working from home may be able to claim tax relief for bills they pay that are work related. Employers may reimburse employees for the additional household expenses incurred through regularly working at home. The relief covers
Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other deductions such as pension contributions and
There is a requirement to notify HMRC if you make any company cars available for private use by company directors or employees. The definition of ‘Private use’ includes employees’ journeys between home and work unless they are travelling to a
Assets such as computers, televisions and bicycles that are made available to employees can create certain tax, National Insurance and reporting obligations. There is no requirement to report anything to HMRC if the asset is office equipment only
There are a number of reasons why you might need to complete a self-assessment tax return. This includes if you are self-employed, a company director, have an annual income over £150,000 and / or have income from savings, investment or property. The
Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors. In a press release issued 17 January 2024, The Department for
The Government has launched a new account on WhatsApp Channels, allowing members of the public to subscribe to receive important updates to their phones. As a trusted, verified account the UK Government channel will focus on reiterating important
A reminder to readers that the full expensing 100% first-year capital allowance for qualifying plant and machinery assets came into effect last April. To qualify for full expensing, expenditure must be incurred on the provision of “main
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