‘Trivial Benefits’ – tax free benefits you can give your employees
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…
How to stay on top of your emails
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…
Do you have to pay tax on your redundancy pay?
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…
How to improve your business cash flow
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…
Working from home: Pros and Cons
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 and do you need to file 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…
Does your business need a music licence?
Many people do not realise that even though they are not in the music or performance industries they still require a music licence for their business. The Performing Rights Society (PRS) ensures that writers, performers and producers of music…
What mileage can you claim through your business?
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…
People in early 20s more likely to be out of work due to ill health than early 40s
In a massive reversal of trends of the past, people in their early 20s are more likely to be out of work than those in their early 40s due to ill health according to the Resolution Foundation. A…
Autumn Statement 2023
Today the Chancellor of the Exchequer, Jeremy Hunt, presented his Autumn statement. Below we break down the keep points and how they will affect you and your business. National Insurance and wages Economy and growth Business tax and…