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…
The simple answer is yes, but there are tax consequences so it’s important you understand what you are doing. From time to time Directors of a company may wish to to borrow money from the business and take…
Should you be a sole trader or a company? We are often asked that question when people are setting up in business, and the truth is it depends on the individual scenario and what you are looking to…
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. But they haven’t done anything illegal. We will leave…
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…
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…
HMRC has estimated that the tax gap across all taxes has increased to £35.6bn. The tax gap is the is the difference between the amount of tax paid to HMRC and the total amount of tax that should…
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…
The 2022/23 tax year ended on 5th April 2023, for which many of us will need to produce and file a personal tax return . To make things easier, here is our list of the information you need…
The 2022/23 personal tax year ended on 5th April and we are now in the 2023/24 tax year. Every year we are asked the same thing – ‘Do I need to fill in a personal tax return?’. Here…