Yesterday, we received the first Labour Budget in fourteen years, which was significant! It included substantial tax increases. There is a lot to consider, so we can begin by examining the details of the Budget. However, before we jump to the nitty gritty, here’s a summary of how the Budget affects you depending on who […]
Search Results for: employee benefits
25
Jun
Jun
Have you had enough of the electioneering and all the televised debates? Or perhaps you’ve been finding some light relief from the politics by watching the Euro’s 2024. As we write this blog, we are reminded that only ten days are left before voting day. A new government could bring about significant changes in legislation […]
05
Jun
Jun
Setting up a business is both exciting and worrying. There’s so much to do and the topic of tax deductible expenses for business might not even be on the radar! However, no doubt you want to optimise your tax position whilst making sure you stay on the right side of HM Revenue and Customs (HMRC). […]
13
Mar
Mar
This time of the year as we approach the end of the tax year we look at all the steps you need to take to make sure you are taking advantage of the tax savings measures available to you. We will consider the different measures and help you plan for the tax year-end. Although overall, […]
Capital Allowances, Corporation Tax, Tax Tips, Uncategorized
Ways to reduce your corporation tax bill
28
Feb
Feb
With the corporation tax rate rising from 19% to 25%, business owners have started to face higher corporation tax bills from 1 April 2023. So, what are the ways to reduce your corporation tax bill? If you are running a profitable business, you may be wondering if you’re taking advantage of all the tax efficiencies […]
07
Feb
Feb
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 […]
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 […]
22
Nov
Nov
Earlier today, Chancellor Jeremy Hunt delivered the Autumn Statement 2023. He began by stating that the economy had performed better than expected and that “real” income had increased. As a result, he announced 110 measures in the Autumn Statement that aim to drive growth. We were thankful that he did not go into each and […]
01
Nov
Nov
A couple of years ago we were discussing if contracting was dead in the water. The introduction of IR35 reforms in April 2017 and April 2021 had raised questions. The issue of IR35 so to speak. These reforms transferred the responsibility of determining IR35 status from contractors to clients, causing a significant compliance burden. It […]
18
Oct
Oct
Have you ever wondered what the cycle to work scheme is? Do you have friends or family who are taking their bike all or part of the way to work and saving tax in the process? The cycle-to-work scheme is used by over a million employees across the UK. It saves them money and enables […]