Changing Your Company Car? What About a Hybrid Next?

The next Finance Bill will include legislation to reduce significantly the taxable benefit on the provision of low CO2 emission cars from April 2020. From 2020 there will be a 2% benefit in kind for company cars that emit no CO2 such as electric and hydrogen powered...

Reporting VAT Online – Aren’t We Doing That Already?

Last month we reported that the government had announced the delay of Making Tax Digital for Business (MTDfB) to 2020 at the earliest but that quarterly VAT reporting, using the new system will be mandatory from 2019. Surely we are doing that already you might say....

Trivial Benefits

Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied: the cost of providing the benefit does not exceed £50; the benefit is not cash or a cash voucher; the employee is not entitled to the benefit as part...

Is Your Company Carrying Out Research and Development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to...

New Company Loss Rules to Go Ahead

The Finance Bill due to be debated in early September will finally include the new rules for the set off of company losses that were originally announced in March 2016. As a result of the first Finance Act being rushed through due to the snap General Election the...