Newsletters
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Can you reverse payroll tax on perks?
Tax and NI on perks can be avoided by “making good”. This involves the director or employee who received the benefit reimbursing their employer for it. But are you allowed to make good a perk if PAYE tax has already been paid on it?
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Considerations when employing a director’s spouse
A director’s spouse doesn’t currently work and he’s asked you if the company can employ her in an administrative capacity. What do you need to consider and how much can the company pay her?
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Construction industry scheme - what’s the latest?
In a move to prevent or at least reduce tax avoidance, changes to the construction industry scheme (CIS) rules takes effect from April 2024. As a contractor or subcontractor in the industry, what do y
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Pros and cons of charging your company rent
If you own your business’s trading premises, charging rent can be a good way to extract income. The trouble is it can increase any capital gains tax (CGT) payable if you sell the property. Can the income tax saving justify the extra CGT?
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Tax codes - how important are they?
If you’re a director or employee HMRC adjusts the tax you pay on your salary by changing your tax code. At any one time it’s estimated that more than one in three codes are incorrect. Sounds bad, but does it really make much difference?
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How much VAT can you claim on mixed use assets?
Your business is buying two assets, a yacht and a motorbike, which will both have business and private use because they will be available to staff and directors for leisure trips. How much input tax can you claim on these purchases?