There are certain tax rules that it is important to be aware of where you pay for the public transport costs of your employees. The provision of public transport costs include: season tickets provided for employees; season ticket costs reimbursed
There is a plausible link between a rise in tax payments if tax rates increase or if tax allowances and reliefs fall. But what happens if there is no change in tax rates or allowances? In this case, there would be an assumption that taxes would not
1 June 2023 - Due date for corporation tax due for the year ended 31 August 2022. 19 June 2023 - PAYE and NIC deductions due for month ended 5 June 2023. (If you pay your tax electronically the due date is 22 June 2023). 19 June 2023 - Filing
The Construction Industry Scheme (CIS) is a set of special rules covering tax and national insurance for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and should be
The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year have been published. Eligible recipients will receive up
A new law that stops employers from withholding tips from people working in the hospitality, leisure and services sectors has come into force. The Employment (Allocation of Tips) Act 2023 received Royal Assent on 2 May 2023. The Bill makes it
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceeds the Primary Threshold. The annual threshold is £12,570 in the current 2023-24 tax year. Many director shareholders take a minimum
There are a number of reliefs available that can reduce liability to Inheritance Tax (IHT). One of these reliefs is known as IHT Business Relief and is a valuable tax relief for taxpayers with business interests, offering either 50% or 100% relief
A P11D form is a form used by employers to list certain ‘benefits in kind’ provided to directors or employees. P11D forms are used to provide information to HMRC on all Benefits in Kind (BiKs), including those under the Optional Remuneration
A new King, the possibility of a change of government next year, and signs that we may, at last, be emerging from the disruptions created by Brexit and COVID. Meanwhile, back at helms of our small business sector firms, entrepreneurs are obliged to
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