Newsletters
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Partially exempt businesses - saving VAT on recruitment costs
A partially exempt business needs an interim finance director for six months and a recruitment agency is proposing to charge an hourly rate plus VAT for the person’s services. Is there a more VAT-efficient way of structuring the deal?
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Private use of a pool car - what’s the tax position?
A business has kept a pool car for years. they’ve stuck to HMRC’s rules rigidly to ensure that when it’s used no taxable benefit occurs, but now need to use the vehicle for private purposes for a short time. How much tax will they have to pay?
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Is tax payable on compensation for damaged property?
Last year a trader's premises suffered extensive structural damage. The insurer compensated him before the repairs were made. If he doesn’t use all the money will he have to pay tax on it?
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Pay increases - avoiding the OpRA rules
In 2017 HMRC clamped down on the use of salary sacrifice (optional remuneration) arrangements which offer perks instead of salary as a way of reducing tax and NI. Is it still possible to obtain tax and NI savings using similar arrangements?
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Class 2 NI: problems with deferred tax payments
Some state benefits need an up to date NI record. This might pose a problem for anyone who has deferred their self-assessment tax bill. How might this affect self-employed persons?
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Is annual accounting for VAT worth considering?
VAT annual accounting isn’t for everyone. There are conditions for joining and, depending on the business, it might not offer any advantage. In what circumstances is it worthwhile considering?