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
Most self-assessment taxpayers make one tax payment in January and a second in July each year. These are known as "payments on account". As part of the governments plan to help you through the coronavirus pandemic, they have extended the deadline for your second payment from 31 July 2020 to 31 January 2021. You don't … Continue reading Do I Need to Make My July Tax Payment?
For employees using a company car, the new fuel rates for use from 1 June are as follows: Engine SizePetrolLPGDieselAmount per mile (in pence)1400cc or less10681401cc to 1600cc12881601cc to 2000cc1289Over 2000cc171112 For the purpose of fuel rates, hybrid cars are treated as either petrol or diesel cars. Please note: This article is a commentary on … Continue reading Advisory Fuel Rates from 1st June 2020
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
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
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?
Christmas is all about giving, so you might like to take the opportunity of giving a gift to your employees or your customers. In many cases, however, gifts are not tax-free. A Christmas Bonus to staff members is treated as additional pay for tax purposes and will attract Income Tax and National Insurance under PAYE. … Continue reading Can I Give My Employee a Tax Free Gift?
The particularly brutal weather we saw when the “Beast From the East” paid us a visit last year highlighted how unprepared many of us are for dealing with adverse weather conditions. And whilst a White Christmas is on many people’s wish-list, the disruption caused by bad weather can be costly for your business. The answer … Continue reading How to Prepare Your Business for Adverse Weather Conditions
Whilst you may enjoy letting your hair down with your staff at the annual Christmas Party, it is worth remembering that you are still the employer and, as such, responsible and, perhaps liable, for any bad behaviour. Any incidents of harassment, abuse or discrimination could have repercussions not just for those involved, but also for … Continue reading How to Avoid Legal Issues at Your Company Christmas Party
The term ‘qualifying car’ is widely used and misunderstood. Car dealers may well tell potential buyers that it means you are able to reclaim the VAT. However, is that always the case? Generally, the input tax on the purchase of a motor car is blocked, unless the car is to be used for one of … Continue reading Does ‘Qualifying Car’ Always Mean ‘VAT Recoverable’?