Can my limited company contribute to my private pension?
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.…
What is a P11D and who needs to have one?
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 to file a P11D(b)…
MTD for Income tax begins April 2026
The new Making Tax Digital (MTD) rules for Income Tax have now come into effect. If you are self employed or a landlord with turnover of over £50,000 you will need to comply with the new rules and…
Business gifts for Christmas
Are you thinking of giving a business gift for Christmas? If so, make sure you know the tax implications before it ends up costing you more than you originally thought. Christmas is not that far away and you…
Budget 2025
Last week saw the second Budget by the Labour Government, much of which did not come as a big surprise. Not all the announcements made will apply directly to you, so below we have broken down the main…
Is the Christmas party tax allowable?
It may be several weeks away, 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…
Almost £2m of laptops and phones have been lost by HMRC
A freedom of information request made to HMRC has revealed that its staff has lost almost £2 million worth of laptops and mobile phones since 2021. Over 3,500 devices have been reported as lost, including 507 laptops and…
Is there VAT on public transport?
Clients often ask us what VAT is applied to public transport, and what they can claim back on their VAT returns as input VAT. The short answer is, usually nothing. Trains and buses Trains and public buses are…
AI being used by HMRC to scan social media for suspected tax cheats
HMRC has confirmed that it is using AI (Artificial Intelligence) tools to scan the social media accounts of suspected tax fraudsters as part of their drive to increase the use of AI in the tax system. Up until…
Government to give HMRC £500m to boost AI
In an effort to increase its artificial intelligence (AI) capabilities, HMRC is to receive £500m from the Government to invest in a new AI digital assistant that should hopefully reduce phone line traffic and wait times. Called ‘Ask…