Is the Christmas party tax allowable?
It may only be October, but many of us will have already booked our work Christmas parties and functions to celebrate. But what are the costs to your business of the Christmas party and what is tax allowable…
It may only be October, but many of us will have already booked our work Christmas parties and functions to celebrate. But what are the costs to your business of the Christmas party and what is tax allowable…
If you are director/shareholder of your own limited company, then yes, the company can make contributions to your private pension scheme, and this will be an allowable expense to deduct from profits before the calculation of corporation tax.…
We are often asked by our clients what expenses are allowable and which are not for tax purposes. Unfortunately, there is no comprehensive or definitive list of what is or what isn’t claimable as each business is different,…
The sun is shining (finally), the beer gardens are full and public transport is even more unbearable than usual. British summertime is finally here! Here are our top ten tips on how to stay cool in the work…
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…
Ever feel overwhelmed by the amount of emails your receive into your inbox? You spend all day replying to them but at the end of the day you still have more than when you started? That needs to…
The simple answer is no, redundancy pay is tax free up to £30,000. This is because it is not considered income but rather compensation for loss of position, therefore not subject to income tax. Anything over the £30k limit…
When inflation rises and businesses are faced with increasing 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…
During COVID, working from home became the norm for many of us, but as things got back to normal more and more businesses insisted that their teams return to the office. However, many people like the new way…
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…