Common Questions
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P45 procedures – What to do when an employee leaves
When an employee leaves, there are various procedures that need to be followed from a payroll perspective. These include telling HMRC that the employee has left and issuing the employee with a P45.
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Should I buy a rental property through a limited company?
Chancellor Rishi Sunak sets out some limited measures to stimulate the economy and help it recover from the ravages... -
Cars and vans – What’s new for 2020/21
There are a number of changes that apply from the start of the 2020/21 tax year that relate to the taxation of... -
Profit extraction in 2020/21 – What is the optimal salary?
A popular tax-efficient profit extraction strategy used by personal and family companies is to take a small salary... -
Are workers employees?
It is important to know whether a worker is employed or self-employed as there are many differences in the way in... -
Can my company buy me a new bicycle?
The government introduced ‘cycle to work’ back in 1999. Broadly, this is an annual tax exemption that allows a business to loan bicycles and cycle safety equipment to employees as a tax-free benefit. This tax break has had a positive impact on workplace health and employee motivation and has encouraged new groups of people to take up physical activity. But can it work for small companies?
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Can we deduct entertaining expenses?
The tax rules on the deductibility of entertaining expenses are harsh and often misunderstood – the fact that the... -
How to calculate your payments on account
The deadline for filing the self-assessment tax return for 2018/19 is 31 January 2020. This is also the date by which... -
When and how to incorporate
Over the last decade, corporation tax rates for most companies – irrespective of size - have fluctuated between 19%... -
How do I calculate my working from home expenses?
We look at best the ways of calculating working from home expenses for Limited Companies and Sole Traders.
