Category Archives: Uncategorised

Pay-back to save tax

At first sight, company car drivers whose private fuel costs are met by their employers may seem to be onto a good thing, but there is a nasty tax hit… Enter, the Car Fuel Benefit charge. Let’s say the following circumstances apply: list price of your car when new was £30,000 your employer pays for […]

Current Advisory Fuel Rates

To assist with your calculations, see previous article, we have reproduced below the current, HMRC Advisory Fuel Rates. They are: These rates apply from 1 December 2019. Engine size Petrol – amount per mile LPG – amount per mile 1400cc or less 12 pence 8 pence 1401cc to 2000cc 14 pence 9 pence Over 2000cc […]

Tax Diary February/March 2020

1 February 2020 – Due date for Corporation Tax payable for the year ended 30 April 2019. 19 February 2020 – PAYE and NIC deductions due for month ended 5 February 2020. (If you pay your tax electronically the due date is 22 February 2020) 19 February 2020 – Filing deadline for the CIS300 monthly […]

Trivia Networking Event

Connect, Inspire, Collaborate Open to all, you have the opportunity to connect with fellow professionals, discover new relationships, participate in a general trivia game, free raffle or simply enjoy pure networking. Judy Parsons ‘LinkedIn Lady’ will be in attendance and sharing some tips with you. Try your hand in the raffle with a difference – the […]

Off-Payroll working arrangements from April 2020

Changes will come into effect in April mainly affecting those working through their own Limited Company who are working for only/mainly one client/end user and where the employment status would indicate that of an employee. The main change is that the end user/client is responsible for determining the status using the HMRC Check Employment Status […]

What now?

Even though many of the uncertainties that have plagued UK politics during 2019 are still to be decided, at least the hiatus in parliament has been resolved; the Conservatives now have a working majority and we can expect action on a number of fronts. Brexit Business readers with any sort of trading platform with the […]

In Business? Add these to your new year resolutions

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2019 is a must-do. Please use the following notes as a check list when […]

Spousal CGT tax advantages

It is fairly common knowledge that the UK tax system is biased in favour of married couples or those partners who have entered into a formal civil partnership. Note that from 2 December 2019, the Civil Partnership (Opposite Sex Couples) Regulations 2019 came into effect in England and Wales allowing opposite sex couples to enter […]

Keeping business records if self-employed

Now that we are approaching the end of the 2019-20 tax year it’s worth noting that you are required to keep your self-employed business records – that underpin your self-assessment tax return for 2019-20 – for 5 years after the 31 January 2021 submission deadline. This means that you will need to retain your 2019-20 […]

Tax Diary January/February 2020

1 January 2020 – Due date for Corporation Tax due for the year ended 31 March 2019. 19 January 2020 – PAYE and NIC deductions due for month ended 5 January 2020. (If you pay your tax electronically the due date is 22 January 2020) 19 January 2020 – Filing deadline for the CIS300 monthly […]