Employees and directors who are provided with a company car and who also receive some or all of their private fuel from their employers are subject to the fuel benefit charge – on an all or nothing basis
As previously announced, a new tax relief for equity and certain debt investments in social enterprises will be available from April 2014. Organisations which are charities, community interest companies or community benefit societies will be eligible.
An individual can make a donation to a CASC under Gift Aid. This will be extended to cover donations of money made by companies.
LLPs have become increasingly popular as a vehicle for carrying on a wide variety of businesses, although running a business as a limited company may well be the norm once corporation tax rates go down to 20% whatever the level of taxable profits.
There were important anti-avoidance changes to the tax regime earlier in 2013, whereby the company can face a tax charge of 25% on the loans, and there was the threat of more changes on the way
From October 2015 this new class of voluntary NICs will be introduced to give those who reach State Pension age before 6 April 2016 an opportunity to boost their Additional State Pension.