When a business is paying the travel costs of a Director or an employee, the general rule is that they are exempt from any personal taxes while they are “wholly and exclusively” in the course of business. This can create a bit of a minefield especially where the travel is a mix of both business and personal, so in this blog post we take a look at the HMRC rules on business travel.
Author: admin
From June 2025 HMRC will start issuing Simple Assessment letters to those affected. But what is it?
HMRC will shortly be writing to taxpayers it thinks will be affected by the new Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) so in this blog post we cover what it is, who will be affected, and when.
Whether you’re looking at your own limited company set of accounts, those of a competitor, or just being nosey about someone else’s, analysing company accounts is a really useful skill. One of the prices to pay for having limited liability being that accounts have to be published at Companies House and these are readily available. The amount of information that can be deduced from them varies depending on how the accounts are prepared. In this blog post we take a look at the different account filings for small companies and how to analyse these.
With the Christmas season very nearly upon us, Kent business owners are looking to finalise their Christmas do’s and let staff know the plans. Whilst the tax rules might be far from the thinking when booking events, they can bite if they are not understood. In this blog post we take a look at the tax rules on staff entertaining and how to make sure you can enjoy the celebrations without suffering a tax problem alongside the hangover.
The much anticipated Autumn Budget 2024 has now been delivered, and whilst big chunks of it were released early (to no doubt gauge the level of any backlash), we did still have a few surprises in there. In this blog post we take a look at the changes.
HMRC have recently launched a new tool called the VAT Registration Estimator that enables businesses to see the approximate result on their finances of registering for VAT. If your business is approaching the VAT compulsory registration turnover of £90,000 or considering voluntary registration then this tool might be useful in showing you the potential financial implication – but is it any good? We have taken a look at this new HMRC tool and noted what’s good and not so good about it.
As part of the Economic Crime and Corporate Transparency Act we are seeing some Companies House changes to help with the quality of information available and to make sure adequate checks are in place for those owning or being an officer of a company. With names such as “Jesus Christ” and “Donald Duck” all apparently being listed as company directors the spotlight had been on Companies House to not only stamp out people abusing the corporate veil but to also be in a better, more powerful position to act when inevitably people try. In this blog post we take a look at those Companies House changes that have come into effect now and those that will be coming in over the next couple of years.
In this blog post we take a look at useful business ratios that you can use when analysing your year end or monthly management accounts. The importance of each one will vary business to business but by looking at these on a consistent basis it can give you early warning signs if problems are on the horizon.
With life becoming ever more expensive we are all encouraged to pay into a pension to better secure our financial future. Another benefit is that it can be an extremely efficient tax planning strategy both as an individual or through your company. In this post we take a look at how the land lies with regards to pension contributions and tax relief when you are paying into one.