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Avoid the traps when providing eye tests for employees
Although the tax system contains an exemption for employer-provided eye tests and the glasses or contact lenses for display screen use, its…
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Business Asset Disposal Relief – have you exceeded the limit?
HMRC have sent out nudge ‘One to Many’ letters to taxpayers who they believe may have claimed Business Asset Disposal Relief (BADR)…
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Making tax-free mileage payments
If you have employees who use either their own car or a company car for business mileage, you can pay mileage allowances…
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VAT option to tax changes
The sale or rental of a property is normally exempt from VAT, the main exceptions being the sale of new residential property…
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Tax implications where employers pay above HMRC’s approved mileage rates
According to the RAC, average fuel prices peaked a year ago at £1.91 per litre, since levelling off at the same price…
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HMRC has closed its phone lines – How to make contact
With four days’ notice, a trial to redirect Self Assessment (SA) queries from HMRC’s phone helpline to its digital services started on…
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Cash basis or accruals basis?
There are two different ways in which accounts can be prepared – the cash basis and the accruals basis. The cash basis…
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10 deductible expenses
If you let out a property, you can deduct the business expenses that you incur when working out your taxable rental profit….
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Swapping your main residence for capital gains tax purposes
Private residence relief means that you do not have to pay capital gains tax on any gain that you make when your…
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