“Taxation is a field in which your intentions may, or may not, be relevant.” If this sounds rather a cavalier – and perhaps not very helpful comment – it may be instructive to compare this to criminal law. The lawyers amongst you will know that generally, for a crime to be committed, there must not […]
Keeping your records and making HMRC returns digitally is nothing new and for some time now HMRC has actively encouraged this. Every individual and business now has access to their own personalised digital tax account and the stated ambition of HMRC is to become one of the most digitally advanced tax administrations in the world. […]
If you own residential property as an investment or as a trading business, then you need to be aware of this tax, especially of the property is itself of high value or if it’s in an area where property values overall are high. Although ATED originally affected only properties valued at more than £2 million, […]
The basis of an employee’s claims for business travel is that the employee (including company directors) are not taxed on expenses paid to them for the cost of travel that is incurred in the course of their duties. The general rule for expenses to be tax-deductible is that the expenses must have been incurred ‘wholly […]
Provision of a company car for key employees, including directors, has always been a popular element of the remuneration package. So, let’s take a look at the pros and cons. First of all, for the business: Now for the employee: Suppose the employee contributes towards the cost of the car? There are a few reasons why […]
In recent blogs on Entrepreneurs’ Relief, I’ve referred to EMI scheme shares, so here’s a quick overview of what these are and how they might be useful to you. EMI stands for Enterprise Management Incentives – a snappy title that does what it says on the tin! These are only available in trading companies with assets […]
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