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 […]
Search Results for: work from home
Business Tips, Employee Benefits, Personal Tax, Tax Tips
Salary Sacrifice Scheme and the Electric Car
17
Jan
Jan
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 […]
04
Oct
Oct
As accountants, we have become accustomed to seeing situations where our clients combine their business and personal expenses. Our role is often (especially when we are doing the bookkeeping) to sift through these expenses and explain the duality of purpose to our clients. So, what is duality of purpose? Simply explained duality of purpose is […]
27
Sep
Sep
Last month, HM Revenue and Customs (HMRC) released the first update from their National Minimum Wage (NMW) promotion team. Going forward, they plan to provide quarterly updates on certain things to watch out for when calculating the minimum wage. You should sign up for the employer bulletins. Why is it important to get the […]
13
Sep
Sep
Currently, in the UK, there is a shortage of high-quality staff to support businesses. There are multiple reasons behind this, and some of them are beyond our control. However, you can control the type of employer you are. The initial step is to comprehend your responsibilities as an employer. So what are your duties as […]
16
Aug
Aug
Many landlords are having a difficult time right now. For many of you, it’s an anxious time due to a few things happening, like rising interest rates and new legislation. So why is it important to think about how to be a good landlord? Following the death of a young boy (Awaab Ishak) in 2020, […]
09
Aug
Aug
Capital gains tax (CGT) is a complicated area of tax and one that a lot of people don’t come across often unless you are a regular investor. So, what is capital gains tax and how to pay less? When individuals or trusts sell or gift an asset, they typically pay taxes on any profit or […]
06
Jun
Jun
The Renters Reform Bill initially promised in 2019 was published last month (May 2023). The government says this piece of legislation will deliver “safer, fairer, and higher quality homes, thanks to the once-in-a-generation overhaul of housing laws”. However, it is not expected that it will become law until next year. So where does this leave […]
Business Tips, Corporation Tax, Employee Benefits, Payroll, Personal Tax
The best ways to take money out of your company.
23
May
May
What are the best ways to take money out of your company? This is the most common question asked by many clients. You choose to operate your business as a limited company for various reasons. One of the top reasons is normally so that you can have protection under “limited liability” and the other is […]
10
May
May
The UK employment rate was estimated at 75.8% in December 2022 to February 2023. This is 0.2% higher than September to November 2022. The increase is due to more part-time employees and self-employed workers, and it means the labour market remains tight. So, what can you do to make recruitment easier for your business. In […]