Are pension benefits received taxable?
As our readers are most likely aware, there are special rules which allow individuals who set up private pension scheme(s) to benefit from significant tax reliefs when saving for their retirement.
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What does the Queen’s Speech mean for employment law?
With the General Election having returned a minority government and with the government’s priority being to legislate for Brexit, a rather more modest agenda for employment law reform was outlined in
Tax Diary July/August 2017
1 July 2017 - Due date for Corporation Tax due for the year ended 30 September 2016. 6 July 2017 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A
Are we seeing the end of tax-free benefits?
There have been changes to the tax rules for certain Benefits in Kind which are provided as part of salary sacrifice schemes. These changes, which started coming into effect in April of this year, are
Gifts to a charity or your spouse
There is usually no Capital Gains Tax (CGT) to be paid on the gift of assets between married couples and civil partners. However, there is still a disposal that has taken place for CGT purposes,
How will your business be affected by Making Tax Digital?
The introduction of Making Tax Digital (MTD) will fundamentally change the way companies, the self-employed and landlords interact with HMRC. The new regime will require businesses and individuals to
Using your own car for business purposes
Employees who use their own car at work for business purposes can, under certain circumstances, be paid a tax-free allowance by their employers. This includes the use of their own van, motorcycle or
Should you be using the VAT Cash Accounting Scheme?
The VAT Cash Accounting Scheme (CAS) can offer important benefits to certain small businesses. Under the standard VAT accounting scheme, VAT is payable on sales whether or not the customer has paid
Are you claiming the NIC employment allowance?
For some time now, employers have been able to reduce their Class 1 NI contributions that relate to their employment of staff. The relevant relief, the employment allowance, is worth up to £3,000 per
DVLA car scam
The Driver & Vehicle Licensing Agency (DVLA) is warning the public of what appears to be a number of widespread scams targeting members of the public using emails, texts and telephone calls. These