Choosing the right year end will not only make life administratively easier for a business, but can give a cash-flow advantage and can create outright tax savings, if the circumstances suit.
New company car advisory fuel rates have been published which take effect from 1 December 2017.
Employers can be fined up to £2,500 for every day that they do not have proper Employers’ Liability insurance.
Employers can also be fined up to £1,000 if they do not adequately display their insurance certificate in the workplace.
As part of the Making Tax Digital programme, HMRC have announced that, from September 2017, some taxpayers will no longer be required to complete a tax return because HMRC will use data it already holds to calculate how much tax they owe.
The P11d benefit charges on company vans are generally much lower than company cars and where private use of the van is merely incidental to its business use by the employee, then there is no taxable benefit at all. But when is a van not a van?
In a recent tribunal case the judge agreed with HMRC that the amount deducted for a wife's wage should be limited based on the hours spent and the appropriate rate for the work done.
On 14 August, HMRC announced that it will accept amendments to research and development (“R&D”) tax relief claims to include eligible reimbursed employee expenses as part of qualifying staff costs, if the revised claim is submitted by 31 January 2018.
The 31 October 2017 deadline for filing your 2017 tax return in paper format is now only a matter of weeks away.
Whilst HMRC would prefer all taxpayers to file their tax returns electronically, due to a number of issues with their software this may not be possible for all taxpayers.