Author Archives: Priya Raja-Motala

Furnished Holiday Lets and the loss of tax breaks

Furnished Holiday Let

Among the announcements in the Spring 2024 Budget earlier this month was the decision to abolish the Furnished Holiday Let (FHL).  This means the loss of tax breaks for that type of rental business. Did you watch the Chancellor’s budget speech? During the speech, he mentioned Hon Members from St Austell and Newquay, North Devon, […]

Spring 2024 Budget Announcements

spring budget

Earlier today, Chancellor Jeremy Hunt delivered the Spring Budget, which probably marks his final budget in the current sitting of parliament. The Chancellor began by stating that the economy is now starting to improve. The Office of Budget Responsibility (OBR) is forecasting inflation to reach 2% in the next few months, and growth in 2024 […]

The end of reporting employee benefits on form P11d

team

Admin work is not something that people enjoy doing. Moreover, filling out forms for paying taxes on the benefits provided to employees can be quite a hassle. After several years of consulting with accountancy and tax bodies, the government has announced that reporting employee benefits on form P11d will no longer be required.  The date […]

Is it still worth being a landlord?

The property market for landlords has been experiencing a lot of changes in recent months. After the interest rate hikes, many landlords have been questioning whether it is still profitable to continue being a landlord. They are curious to know if the business of being a landlord is still worthwhile.   Why is it difficult […]

When is a pool car, not a pool car?

company car

When an employee has access to a car provided by their employer, it usually results in a company car benefit-in-kind (BIK). However, if the car is classified as a “pool” car, then no taxable benefit arises. So, when is a “pool” car, not a “pool” car? Company Car Tax A company car is a common […]

Changes to Holiday Pay for employees who work irregular hours

holiday pay

The government has decided to undo the changes made to holiday pay calculations after the Harper Trust v. Mrs Brazel case in July 2022. In 2022 the Supreme Court ruled that the old 12.07% calculation, which had been in use for years, was no longer relevant. Due to these changes in holiday pay regulations for […]

Salary Sacrifice Scheme and the Electric Car

salary sacrifice and electric car

Salary sacrifice has been around for a while now. But in recent times it has become a popular topic again.  For two reasons, first employers want to offer a competitive package to help with staff retention. Second, money is tight for everyone, and a salary sacrifice scheme offers tax savings.  Tax savings for both the […]

Starting the New Year off right

2024 goals

Happy New Year and welcome to the first blog of 2024.  We hope you had a good rest and break during the festive season and enjoyed some quality time with friends and family.  Many of you will now be looking at starting the New Year off right. For this reason, January is a popular time […]

Giving back to your employees at Christmas

It’s that time of the year when we celebrate the spirit of giving. As the festive season approaches, you may be considering ways to give back to your employees. This could be in the form of a Christmas bonus, a fun party, and maybe a few gifts.   But as you know by now gifting […]