Tag: Business Expenses

Paying for School Fees
Articles

Paying for School Fees

Currently, the annual ISA allowance enables individuals to save up to £20,000 a year tax-free. This means that there is scope for a couple to save £40,000 a year between them. Junior ISAs also enable tax-free savings for children under the age of 18 years.

Tax implications Personal Protective Equipment
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Tax implications Personal Protective Equipment

Where the PPE is required for the employee to perform the duties of their employment, the employer should provide this. Consequently, the issue of the employee meeting the cost of necessary PPE should not arise. In their guidance, HMRC state that employees are not entitled to tax relief on the expense of providing PPE needed to undertake their role.

Bonus for retaining staff when CJRS comes to an end
Articles

Bonus for CJRS comes to an end

When the scheme comes to an end, employers will need to assess their staffing requirements and decide whether they can bring furloughed employees back to work.

Cars and vans business expenses for 2020-21
Articles

Cars and vans business expenses for 2020-21

The charge for zero emission cars is 0% for 2020/21, regardless of whether the car was registered before or after 6 April 2020. It will increase to 1% for 2021/22 and to 2% for 2022/23.

Can we deduct Entertainment Expenses
Our Blog

Can we deduct Entertainment Expenses

Business entertainment is the provision of free or subsidised hospitality or entertainment. Hospitality includes the provision of food drink or similar benefits for which no payment is made by the recipient.

Property Rental Business Car Expenses
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Property Rental Business Car Expenses

The use of simplified expenses, while generally easier from an administration perspective, is not compulsory. The landlord can instead claim a deduction based on the actual costs. However, in practice this will be time consuming.

Cost of using Company Van
HMRC

Cost of using Company Van

Changes were made to the taxable benefit charge provisions from 2015/16 onwards to phase out the former £nil van benefit charge for zero-emissions vans. For 2015/16 a rate of 20% of the van benefit charge for vans which emit CO2 applied to zero-emissions vans.