For some years now employers have been able to payroll benefits for their employees. The obvious question for you as an employer is should you payroll your employee benefits? What are the advantages and the draw backs of taking such a step? So, what are we talking about here? We are talking about employee […]
Author Archives: Priya Raja-Motala
22
Feb
Feb
Have you been approached by HM Revenue & Customs (HMRC) asking for the repayment of Child Benefit? You may have received a letter from HMRC (The Child Benefit Office) saying that you’ve been overpaid, and they would like the money back. There’s an appeal process in place if you feel that the facts in […]
HM Revenue & Customs, VAT, VAT Compliance, VAT Return
Why do you need to know the difference between VAT Error and Adjustment?
10
Feb
Feb
The word “adjustment” means alteration in the English Language whilst “error” means a mistake. The difference between the two is important because when it comes to your VAT Returns how you deal with a VAT error is different to how you can deal with a VAT Adjustment. What qualifies as a VAT Adjustment? […]
HM Revenue & Customs, Tax Advice, Tax Planning, Tax Tips
Do you want to transfer the ownership of your investments to your spouse to save tax?
08
Feb
Feb
Have you been thinking that if you could just transfer some of your investment income to your spouse then you will have a lower tax liability? If so, you are not the only one. This is a common question when we prepare client’s tax returns. Having just completed the tax season and nearing the end […]
01
Feb
Feb
Inflation is affecting everyone and every business across the globe. How do you do business during these inflationary times and where should you pay attention. Soaring inflation is making things difficult for business as costs rise and, in some cases, go out of control. Consumers are also experiencing the pressures of rising prices and hence […]
25
Jan
Jan
January is normally when so many of us start looking at our holiday plans for the year ahead. What better way to spend those cold dark evenings. A few of us even dream of having a holiday place that we can call our own. And why not? A place of our own in a familiar […]
Capital Allowances, Employee Benefits, P11d, Personal Tax, Tax Planning
The Tax Benefits of an Electric Car
18
Jan
Jan
The company car is becoming more popular again mainly because of electric cars. Once again it is potentially an exciting tax perk and an important part of any remuneration planning. In our updated blog we revisit the tax benefits of an electric car. Of course, nobody these days questions the environmental benefits of running an […]
Corporation Tax, HM Revenue & Customs, Tax Advice, Tax Tips
Changes to Research & Development tax credit schemes
11
Jan
Jan
Changes to R&D tax relief schemes In the Chancellor’s Spring 2023 Budget ,Jeremy Hunt confirmed changes to the two Research and Development (R&D) schemes currently in operation. The main changes relate to the changes to the rates of relief available. These changes came into effect from 1 April 2023 and are being brought in to […]
14
Dec
Dec
The British High Street is continuing to diminish, and as the crisis persists, the high street as we know it may soon become obsolete, with both independent and chain stores feeling the effects. Mary Portas the queen of retail and the person David Cameron trusted with the review of our high street twelve years ago […]
HM Revenue & Customs, VAT, VAT Compliance, VAT Return
Changes to VAT penalties – what you need to know
07
Dec
Dec
The changes in the VAT penalty system which we have known about for a while comes into effect next month (January 2023). We are expecting more details this month from HM Revenue & Customs but here’s what we know so far relating to the changes to VAT penalties. The main reason for the introduction of […]