Planning a party for employees

With the season for workplace parties fast approaching we thought it would be a good idea to remind you of the tax implications of these types of events. The good news is that, unlike entertaining customers, the costs of entertaining employees are generally allowable against the profits of the business.

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Watch out for telephone calls from fraudsters pretending to be from HMRC!

Fraudsters pretending to be from HM Revenue & Customs (“HMRC”) are expanding their unscrupulous activities.  After years of sending out fake emails, they are now calling unsuspecting individuals and, in some cases, duping them into making payments.  

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Are your pension savings tax efficient?

As you may be aware, there is a maximum amount that can be saved tax-efficiently for retirement each year. This is known as the Annual Allowance and it governs all pension savings including those made by an employer on an employee’s behalf.

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Money laundering: your role in stopping the criminals

It’s not just accountancy firms and tax officials who have obligations in relation to money laundering, writes GRAHAME MAUGHAN.  HMRC expects many others to play a role too.

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Making Tax Digital

Last month HMRC issued 6 consultation documents setting out the first steps in their ambitious plans to implement the Making Tax Digital (MTD) proposals announced in 2015.

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Simple ways to reduce your family’s inheritance tax bill

The inheritance tax (“IHT”) allowance, above which inheritance tax of 40% is payable, stands at £325,000 per person and has been frozen at that level since 2009. With almost 1,400 extra families being dragged into the IHT net, it’s increasingly important to take steps to minimise the amount of tax due.

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Advisory fuel rates for company cars from 1 September 2016

The advisory fuel rates for journeys undertaken on or after 1 September 2016 are:

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Capital Gains Tax on transfers between divorcing couples

During the emotional upheaval of a divorce, tax considerations are generally the last thing on the minds of those involved.  However, by taking advice early in the process, a divorcing couple may be able to avoid unnecessary tax liabilities.

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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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