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Could changing your accounting date help reduce your tax bill?

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.

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Advisory fuel rates for company cars from 1 December 2017

New company car advisory fuel rates have been published which take effect from 1 December 2017. 

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Get insured or get fined!

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.

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Making Tax Digital – Simple Assessment

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.  

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When is a company van not a van?

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?

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Are spouses wages fully deductible?

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. 

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R&D Tax Relief: HMRC Accepts Late Claims for Reimbursed Employee Expenses

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.

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Self-assessment filing deadline for paper filing

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. 

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Ryecroft Glenton, founded 1901, is an independent, award-winning firm of Chartered Accountants and strategic business advisers giving personalised support to every one of our clients.

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