Newsletter
Autumn 2013
Our article ‘Chasing car tax’ considers car benefits which are a popular perk but can be expensive for both the employee in tax terms and the employer with regard to the provision of the vehicle and related costs. Some employers have sought alternative arrangements to provide the cars and we report on a recent case where employee leasing agreements were used.
The box has arrived
We thought it would be useful to remind you that the Patent Box legislation took effect from 1 April 2013. This includes accounting periods straddling that date...
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Chasing car tax
The provision of an employer provided car (often referred to as a company car) is still valued by recipient employees and directors. However, the increasing...
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Tortuous travel…
Over recent years the issue of the self-employed individual claiming tax relief on travel expenses has been a constant area of challenge by HMRC...
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No relief for property business
The availability of Business Property Relief (BPR) for inheritance tax (IHT) is critically important as it potentially saves an individual 40% IHT...
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The paper residence
The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many people benefit during their lifetime...
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Real Time Information (RTI) - extended relaxation
Since April 2013 almost all employers must report payroll information online to HMRC when or before any employee is paid. This information includes details of employees, their pay, tax and national insurance deductions...
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Qualifying business disposal or not?
It is easy to assume that if you build up a successful unincorporated business that you will be entitled to Entrepreneurs’ Relief (ER) on disposal. This valuable relief reduces the tax liability to 10% on qualifying gains up to a lifetime limit of £10 million...
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