Blog

Not so trivial benefits


October 18th, 2017

According to HMRC you don’t have to pay tax or NIC on a benefit provided to an employee if: it costs you £50 or less to provide (or the average cost per employee if a benefit is provided to a group of employees and it is impracticable to work out the exact cost per person) […]


Are you lending money to your company


October 17th, 2017

There is a whole raft of legislation that seeks to penalise directors and shareholders if they borrow money from their company. These regulations include possible benefit in kind charges for the director/shareholder, and additional corporation tax payments of 32.5% for the company. In effect, the tax system discourages directors from using their company as a […]


Bookkeeping in the cloud


October 13th, 2017

Smaller business owners, those with annual turnover below the current VAT registration threshold (£85,000 for 2017-18), will be relieved to know that the impending digitisation of tax by HMRC will not be a requirement when the process starts for business tax from April 2019. You can register on a voluntary basis, but many smaller businesses […]


Avoid property fraud


October 12th, 2017

Since September 2009, HM Land Registry has prevented 254 fraudulent applications being registered. The most common fraud is when someone pretends to be you and mortgages or even sells your property without your knowledge. A simple and cost-effective way to counter this activity is to register with the award-winning Property Alert service. This is managed […]


Under 18s and tax


October 9th, 2017

Children (under 18s) can earn up to £11,500 in the current tax year and pay no income tax. This is the maximum that can be earned during 2017-18 and will include earnings from all sources subject to income tax. The most common are: Income from employment Income from self-employment Bank interest and dividends received – […]


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