Newsletters
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Employee loans and the £10,000 threshold
In 2020/21 a business lent money to one of its employees whose partner lost their job last year. At the year end, the employee has made repayments which bring the balance below £10,000. The business owner thinks this means it doesn't need to be reported. Are they correct?
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Maximise the benefit of a main residence election
Where multiple properties are used as a home, claiming the correct amount of private residence relief on a sale can be fiddly. Things can be made easier by making a private residence election. How can owners maximise the benefit?
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Brexit: avoid traps with zero-rating
The VAT rules for sales to the EU changed on 1 January 2021, as these are now classed as exports. How will these changes affect businesses and what is the impact of more new rules being introduced from 1 July 2021?
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Can a business refuse an unannounced VAT inspector?
HMRC is stepping up compliance visits in the local area, including turning up unannounced at businesses and demanding to see till and cash records. What rights does a business have do if it is targeted in this way?
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Helping staff with pension decisions
The financial pressures on employees have been significant over the last year so it’s even more important that their retirement plans are robust. What do employers need to know about pensions for tax year 2021/22? Response to COVID-19
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Avoiding a year-end trap with employee expenses
For cars and vans there are two tax-free mileage rates. The higher is payable for the first 10,000 miles of business travel in a tax year and the lower thereafter. The trouble is, as one tax year ends and another starts there’s the risk of applying the wrong rate. What’s the problem and how can employers avoid it?