Claiming back VAT on business trips?
Like any business, you and your staff are often out on the road visiting clients, suppliers, attending events etc. Business travel is something of a soft target for HMRC so … Read more
Steve McGregor
Buy-to-let property: the new right to rent checks
Investment choice Instead of leaving money in a bank earning a paltry rate of interest, many business owners invest their hard-earned cash in the buy-to-let property market. Whilst this certainly has its benefits, … Read more
HMRC’s new advice on business records
HMRC recently updated its advice regarding electronic invoicing. The trouble is it’s long-winded and tricky to follow. Is there an easier way to meet HMRC’s current requirements for electronic record … Read more
A tax break that lowers the cost of auto-enrolment
Auto-enrolment recap As you probably know, the auto-enrolment(AE) rules require that you include all employees who are between 16 and state retirement age and earn more than the so-called earnings trigger (£833 per month for 2015/16) in … Read more
New payrolling benefits system – is it worth using?
Taxing benefits The current system of taxing benefits in kind has always been contentious. It involves the dreaded annual routine of completingFormP11D which, as you’ll no doubt be aware, can be time consuming for you and … Read more
Avoiding the tax relief trap on buy-to-let loans
Buy-to-let tax relief The buy-to-let market continues to grow and despite ups and downs over the years it can provide a good return on investment. Because of this you’ve decided to get in onthe action, but you’ll need to borrow … Read more
NEW TAX ON COMPANY OWNERS
There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.
EMPLOYERS NI ALLOWANCE UP BY 50%
Recap Since 6 April 2014 most employers have been entitled to a reduction in the NI liability payable on their employees’ (including directors’) wages. For 2015/16 the employmentallowance (EA) is worth up to £2,000 and … Read more
RECLAIMING VAT ON FINES AND PENALTIES
Fines, penalties, VAT and other taxes HMRC has for a long time held the view thatfines and penalties are not tax deductible and we agree. However, not all excess parking charges … Read more
BUY TO LETS: DON’T OVERLOOK THE DEPOSIT
Peace of mind With traditional banks and building societies offering a poor rate of return, many business owners either have or are looking to invest in the buy–to-let market. To safeguard landlords against potential breaches … Read more