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Possible bonus when you register for VAT
Businesses are required to register for VAT purposes when their annual taxable turnover exceeds £85,000 (this limit applies from 1 April 2017). You will not
Do you use your car for business purposes
Many employees use their own cars to undertake journeys for their employers. In most cases, employers will pay for this. Generally, they will pay a
Changes to taxable benefits from April 2017
The good news, the way in which benefits in kind are taxed – company cars, mobile phones, etc. – is unchanged for the tax year
Damage limitation
The phrase “in-limbo” comes to mind when describing the present outlook for businesses in the UK. What will be the outcome of the June election?
What is the current tax position when dividends are taken
One of the most useful ways for owner directors of small companies to reduce their overall tax and NIC costs is to pay themselves a
The new Criminal Finances Bill
New legislation to increase the powers of law enforcement received Royal Assent 27 April 2017. The Criminal Finances Act 2017 will give law enforcement agencies
Change in accounts filing for small companies
Small companies are required to file a copy of their end of year accounts with Companies House. In the past, it has been possible to
Under 4 year olds now eligible for tax-free childcare
The government have issued the following press release regarding the roll-out of the new tax-free childcare scheme: From 21 April 2017, working parents can start
Finance Bill reduced
In order to ensure that the Finance Bill 2017, introduced March 2017, is passed before the impending general election, huge chunks of the original, published
What are approved mileage payments
Mileage Allowance Payments (MAPs) are the rates used by employers to reimburse employees when they use their own transport for business purposes. The current rates
Beneficial loans to employees
In many cases, making loans to your employees or their relatives can create an obligation to report a beneficial loan to HMRC. The deemed benefit
All change for driving instructors and learner drivers
Driving instructors will have a tough time this year. Many are sole traders and will need to start changing their record keeping to accommodate the
Expenses and benefits for employees
Until 2015-16, it was possible to apply for a dispensation to exclude certain expenses and benefits provided to employees from the year end returns to
Tax Diary May/June 2017
1 May 2017 – Due date for Corporation Tax due for the year ended 31 July 2016. 19 May 2017 – PAYE and NIC deductions
A note for driving instructor clients E and learner drivers
The Driver & Vehicle Standards Agency has released its response to a consultation with the industry to “Improve the car driving test”. In their conclusion