Welcome to our September Tax Update. In this edition we take a look at Inheritance Tax, Workplace Nurseries, Tax-Free Childcare Accounts, Hours Worked Reporting, Fuel Rates for Company Cars and upcoming dates on the accounting horizon. SHOULD YOU PASS ON WEALTH NOW TO AVOID INHERITANCE TAX? Many wealthy individuals are…
Employees with access to company cars often face a tax burden on the ‘benefit in kind’ of having a car at their disposal. However, where an employee has use of a ’pool car’, there is no taxable benefit and an entry is not required on form P11D. Furthermore, the employer…
Should Employees Reimburse Private Fuel Costs? Where a company car is provided for use by an employee or director there is a benefit in kind taxable on the employee based on the original list price of the vehicle multiplied by the CO2 emissions percentage for that vehicle. There is an…
Welcome to our June Tax Update. In this edition we take a look at employee benefits, HMRC’s interest rate, advisory fuel rates and events on the accounting horizon. REPORT EMPLOYEE BENEFITS ON FORM P11D P11d forms for reporting expenses and benefits in kind provided to employees and directors in 2023/24…
Welcome to the September 2023 Tax Update. In this edition we take a look Tax-Free Childcare Accounts, Child Benefits, changes to the R&D Relief Scheme, IHT on Pension Funds, and this month’s events on the accounting horizon. If you need any help or advice on any of these topics, please…
Welcome to the June 2023 Tax Update. In this edition we take a look at share options for employees, HMRC’s rate of interest, employee’s private fuel, advisory fuel rates for company cars, and this month’s events on the accounting horizon. If you need any help or advice on any of…