What is a P11D and do I need to complete one?
What is a P11D? The P11D form is a statutory form required to be filed with HMRC by those businesses that provide benefits to their employees that do not go through the PAYE system. You will also need…
What does my tax code mean? 2022/23 Edition
What exactly do all the numbers and letters in my tax code mean? And what do I do if I think it’s wrong? HMRC generate your tax code based on the information that they hold about you and…
Do I need to file a personal tax return for 2022?
The 2021/22 personal tax year ended on 5th April and we are now in the 2022/23 tax year. Every year we are asked the same thing – ‘Do I need to fill in a personal tax return?’. Here…
Do you need to charge VAT on recharged expenses?
We are often asked by clients if they need to charge VAT on the expenses that they recharge onto their own customers. The simple answer is yes, you charge VAT if you benefit from the expense, and no,…
What business mileage can I claim?
We often get asked the question what business mileage our clients can claim back, and what tax they will have to pay on it if they do. Below we break down the differences between business mileage and private…
How can I improve my business cash flow?
As inflation rises and businesses are faced with higher costs cash flow can become a problem. There is more going out than coming in – but that cannot carry on forever. Most businesses that go bust do so…
What are trivial benefits? Tax free benefits you can give your team
We are often asked what benefits a company owner can award themselves and staff, and what the tax implications of those benefits are. Most benefits will be taxable, and have to be included on a P11D form, with…
Tax evasion or tax avoidance?
What’s the difference between tax evasion and tax avoidance? Celebrities and sports stars alike have been in the news in recent years, hitting the headlines for their tax avoidance in the Paradise Papers, amongst other reports. But they…
What are the different VAT rates and what do they mean?
We are often asked what all the different VAT rates are and what they mean. Zero-rated is the same as Exempt, right? Wrong. Read our guide below to make sure you understand the difference between all the rates…
Who should be in your work place pension?
Since they were introduced in 2012 more than 88% of those eligible – 19.4 million people – have been automatically enrolled into workplace pensions. Every business that employs staff who meet the criteria should be automatically enrolling workers…