If you’re running a small or medium-sized business right now, you don’t need anyone to tell you that things feel heavy. Between unpredictable economic conditions, continued global uncertainty, and the ripple effects of the conflict in the Middle East, employers are juggling more than ever. And just when you think you’ve caught your breath, along […]
Tag Archives: business tax
Business Tips, HM Revenue & Customs, Personal Tax, Tax Tips
When Is an Asset Business or Personal? HMRC’s View and the Tax Consequences
10
Sep
Sep
Determining if assets or property are used for business or personal purposes can significantly affect taxation levels. HM Revenue and Customs (HMRC) is often sceptical of claims where assets appear capable of private use, from cars to horses, and even motorbikes. The consequences of getting it wrong can be costly. So, let’s clarify when an […]