Category Archives: Uncategorized

Employers can pay employees a fixed rate per mile to cover the costs of using their own vehicles on company business. The present agreed rates per mile are: Cars and vans – 45p per mile for the first 10,000 miles and then 25p per mile. Motorcycles – 24p per mile. Bikes – 20p per mile. […]

Parliamentarians will debate the government’s ground-breaking Online Safety Bill which requires social media platforms, search engines and other apps and websites allowing people to post content to improve the way they protect their users. Ofcom, the regulator, will have the power to fine companies failing to comply with the laws up to ten per cent […]

1 May 2022 – Due date for corporation tax due for the year ended 30 July 2021. 19 May 2022 – PAYE and NIC deductions due for month ended 5 May 2022. (If you pay your tax electronically the due date is 22 May 2022). 19 May 2022 – Filing deadline for the CIS300 monthly […]

Planning to save tax may seem like a luxury buy in these days of rising prices and recovering from COVID fallout. And yet tax planning is of real value in these uncertain times. Whether your income and profits are increasing or reducing, there will be tax consequences. And unfortunately, to mitigate your tax footprint you […]

We are all feeling the effects of inflation, increasing energy, fuel and the price of basic foodstuffs affect us all. The Government Actuary’s Department has posted a blog article recently – Inflation, its personal – written by Christopher Ward, Actuary. The article provides a useful update on the scope and cause of rising prices. It […]

When corporation tax increases from 1 April 2023, companies will need to consider three scenarios: From 1 April 2023: The main corporation tax rate is increased to 25% where profits are over the upper profits limit, set at £250,000. A small profits rate will apply for companies whose profits are equal or below the lower […]

Many business owners feel qualified to act on their subjective conclusions. Where these conclusions are key to the continuing success of the business this internal process opens up the possibility of failure – what if you have failed to consider all the possible risks? As individuals, we can only grapple with our internal thought processes, […]

How do we plan for the unpredictability that is a recurring feature of our business lives? Brexit, COVID-19, and now the war in Ukraine, all conspire to create trading conditions that can best be described as chaotic. Present challenges include increasing energy and commodity prices, both of which are forcing up the cost of living […]

Whether you are self-employed or run your business through a company, the profits you produce are subject to tax less any reliefs for past losses or investments in assets that qualify for tax relief. As most accounts software packages do not allow for these tax liabilities on a month-by-month basis, there is a tendency to […]

Landlords are described by HMRC as a property business and yet their income, rents received, is treated as an exempt transaction for VAT purposes, i.e., landlords do not need to register for VAT and submit quarterly returns. The only exception is if a let commercial property has been opted-in to VAT. This means that the […]