With employees’ and directors’ P11d’s for 2021/22 due by 6 July 2022 it is timely to remind employers of the rules for travel and subsistence, particularly as HMRC have recently issued some updated guidance and useful examples of their interpretation of the law. Tax relief for employee travel costs is available provided the journey isn’t…
Utilising your pension to cut inheritance tax
Utilising your pension to cut inheritance tax Pensions usually fall outside of your estate. Inheritance tax was thought to be ripe for reform in last year’s Autumn Budget but, as it happened, it was left untouched for another tax year. What that means is the £325,000 nil-rate band has been in place since 2009, while…
Business News
BUSINESS NEWS Welcome to our round up of the latest business and Covid-19 news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you through these tough times. This week, there is more positive news on the vaccination front with…
BUSINESS NEWS
Welcome to our round up of the latest business and Covid-19 news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you through these tough times. The Office for National Statistics (ONS) has released its latest indicators for the UK economy…
Furloughing Directors
with commentary from Forbes Dawson The issue The question of whether (shareholder) directors of their own companies can ‘furlough’ themselves is still subject to some ambiguity. In simple terms many director shareholders want to know where they stand in relation to the Coronavirus Job Retention Scheme (CJRS). Currently, two schemes have been launched by the…
Working from home – ensuring employees stay mentally strong
With the Government recommending those that can, work from home, it is important to note that for some people it’s not the perfect set up. There is the obvious advantage of no commuting and technology means we can have more autonomy over our time but for some people we will need to monitor their mental…
COVID-19 Key Government Webites
Below are some key Government websites where you can access the latest information: • Government action plan • Guidance on social distancing and stay at home • Travel advice • Support for businesses • Tax helpline to support businesses who are concerned about paying their taxes • Guide for employees, employers and businesses • Budget…
Available support for businesses during COVID-19
Support for businesses that are paying sick pay to employees: The Government has announced legislation to allow small and medium-sized to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme are: • this refund will cover up to 2 weeks’ SSP per eligible employee who has…
Different Types of Business Structures
Your business might go through a variety of structures over its lifetime so it’s always helpful to know what different options there are and what implications they can have. Types of business structure The most common types you’ll probably know of are sole trader, partnership or company. But there is more than one type of…
Electric Company Cars…worth it?
From 6th April company car owners will no longer have a benefit-in-kind on fully-electric vehicles, which is likely to make company cars far more appealing to motorists throughout 2020. The benefit-in-kind on these cars at the moment is 16% of the list price, however this rate will drop from the 6th April 2020 to 0%….
