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...

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...

Thinking of Winding up your Company?

Up until 6 April last year, the distribution of cash to shareholders on the winding up of a trading company by a liquidator, was usually taxed as a capital gain, potentially taxed at just 10% with the benefit of entrepreneurs’ relief. However, last year’s Finance Act...

Tax Diary of Main Events

Date What’s Due 01 October Corporation tax for year to 31/12/16 unless quarterly instalments apply. 05 October Deadline for notifying HMRC of chargeability for 2016/17 if not within Self-Assessment and receive income or gains on which tax is due, for example rental...

Diary of Main Tax Events September/October 2017

Date What’s Due 1 September Corporation tax for year to 30/11/16 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/17 (due 22 September if you pay electronically) 1 October Corporation tax for year to 31/12/16 5 October Deadline for...