Category: Tax

Company Cars

Landmark Case Highlights the Rules Around Commercial Vehicles

Many business owners provide their employees with vehicles to help them perform their work duties. But with commercial vehicles attracting a lower level of tax than company cars, the vehicle must meet the criteria set out by HMRC. HMRC states that a commercial vehicle must be ‘constructed primarily for the conveyance of goods or burden with … Continue reading Landmark Case Highlights the Rules Around Commercial Vehicles

Tax

How Do I Set up a Payment Plan for My Tax Liability?

Once you have submitted your tax return, you will know how much you are due to pay by 31 January.  To arrange an instalment plan (a 'time to pay' agreement), you will need your Government Gateway account details to log on to HMRC's online tool. You must meet all the following criteria to be eligible: No outstanding … Continue reading How Do I Set up a Payment Plan for My Tax Liability?

Company Cars

Advisory Fuel Rates

This post was originally published in 1 September 2020 and was updated on 1 March 2021 for freshness, accuracy and comprehensiveness. For employees using a company car, the new fuel rates for use from 1 March are as follows: Engine SizePetrolLPGDieselAmount per mile (in pence)1400cc or less10791401cc to 1600cc12891601cc to 2000cc12811Over 2000cc181212 For the purpose … Continue reading Advisory Fuel Rates

Coronavirus, Property, Tax

Temporary Land Transaction Tax Changes in Wales

Last week, the Chancellor, Rishi Sunak, announced that the stamp duty threshold in England and Northern Ireland was being increased from £125,000 to £500,000. The tax break didn’t apply in Wales, but additional funding was being provided for the Welsh Government to implement a similar policy. It has been announced that the change to the … Continue reading Temporary Land Transaction Tax Changes in Wales

Coronavirus, Employees, Payroll, Tax, VAT

New Support Announced by the Chancellor in His Summer Statement

On Wednesday 8 July 2020, the Government held an emergency mini budget to minimise the pain as the economy faces the challenges of the past few of months. The main priority on the agenda was unemployment rates, with the Chancellor announcing that he wants to ‘protect, support and create jobs.’ What’s changing? Furlough Scheme With … Continue reading New Support Announced by the Chancellor in His Summer Statement

Tax

How to Create a Government Gateway User ID

A Government Gateway user ID is a series of 12 digits required, alongside a password, to access the UK government’s secure online services, including the HMRC portal. To setup your account, you will need to complete the following steps: Go the government website - https://www.access.service.gov.uk/registration/emailEnter your email addressEnter the confirmation code sent to your email … Continue reading How to Create a Government Gateway User ID

Tax, VAT

How to Deal With Seasonal Work Cover

The festive season often sees an increase in activity for many businesses which may mean you need more hands on deck and seasonal work cover. Your first thought may be to take on more staff, perhaps on a fixed term or casual basis, but in some cases you can increase productivity by offering your existing … Continue reading How to Deal With Seasonal Work Cover

Tax, VAT

Is My Christmas Party Tax Deductible?

Like many employers, you probably like to treat your employees at this time of year by providing a Christmas Party, but to avoid any tax or VAT implications, you should make yourself aware of the rules. Entertainment for your employees is tax-free, providing it is available to all your staff, it’s an annual event and … Continue reading Is My Christmas Party Tax Deductible?