Accounting News

Are Low Emission Cars Tax Efficient?

Are Low Emission Cars Tax Efficient?

Significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs).   The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price, including the full value...

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Managing Employees Who Have A Side Hustle

Managing Employees Who Have A Side Hustle

A recent study suggests that 25% of employees in the UK are running at least one business project alongside their day job. A side hustle is defined as a secondary business or job that brings in, or has potential to bring...

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Electricity For Electric Cars – A Tax-Free Benefit

Electricity For Electric Cars – A Tax-Free Benefit

The Government is keen to encourage drivers to make environmentally friendly choices when it comes to choosing a car. As far as the company car tax market is concerned, tax policy is used to drive behaviour, rewarding drivers choosing lower...

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Just Starting Out – New Businesses

Just Starting Out – New Businesses

As long as HMRC can be satisfied that a business is being run on a commercial basis with a view to making a profit, they will usually allow taxpayers to claim tax relief for a trading loss in one tax...

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Penalties For Late Self-Assessment Returns

Penalties For Late Self-Assessment Returns

The normal due date for a self-assessment return where filed online is 31 January after the end of the tax year to which it relates. This means that self-assessment tax returns for 2017/18 should have been filed online by midnight...

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Tax-Free Mobile Phone

Tax-Free Mobile Phone

Mobile phones are ubiquitous – they are also subject to a tax exemption which enables employees to enjoy a mobile phone provided by their employer without suffering a benefit in kind tax charge. However, as with all exemptions there are...

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Hybrid Cloud Technology

Hybrid Cloud Technology

Many businesses are starting to realise that having all their data in the cloud may not be the best option. Due to cyber-security concerns, many firms are migrating applications and data away from the public cloud in favour of a mix...

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Getting Ready For Off-Payroll Working Changes

Getting Ready For Off-Payroll Working Changes

From 6 April 2020 the off-payroll working rules that have applied since 6 April 2017 where the end client is a public sector body are to be extended to large and medium private sector organisations who engage workers providing their...

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