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What’s the trouble with fuel for company cars?

If your business provides company cars you need to take extra care in accounting for the cost of fuel. Get it wrong and your business and the driver will be hit with hefty tax and NI bills. What’s the problem and how can you avoid it?

Who’s paying the fuel bill?

As fuel prices fluctuate, keeping track can be a headache, yet […]

By |January 18th, 2016|Business Tax, Company Car, Tax|0 Comments

How much can you borrow from your company?

As directors, you and your colleagues hold the company’s purse strings. You can even borrow cash from it, but if you do company law imposes conditions. What are they and do you really have to bother with them?

In theory

As a director shareholder of a small company it’s easy to think of it as your business. The trouble […]

By |January 18th, 2016|Business Tax, Tax|0 Comments

What’s new with 2016/17 tax codes?

HMRC is working out 2016/17 tax codes ready for issue in early 2016. Changes to dividend and other investment income tax rates, plus a new system for taxing benefits might mean radical changes to your code. What’s the full story?

The right code

The amount of tax you pay on your salary etc. depends on your code […]

By |January 15th, 2016|Business Tax, Company Car, Personal Tax, Property Tax, Tax|0 Comments

Autumn Statement- Business rates

 

Business rates. The right to reduced rates for businesses that occupy small commercial premises has been extended. If your business meets the conditions you can claim small business rate relief (SBRR) for 2016/17.

You must claim SBRR, your local council will not grant it automatically.

You can claim Small Business Rates Relief (SBRR) where:

you only use one […]

By |December 14th, 2015|Business Tax|0 Comments

Stamp duty land tax

This week I have had several conversations again this week with clients on this subject following the autumn statement.  So I thought it would be usefull to share some information on it.

This article is a useful one which helps explain the new second home / landlord 3% stamp duty.

http://news.rla.org.uk/stamp-duty-land-tax-how-will-the-hike-affect-me/

If you have any questions about your […]

By |December 4th, 2015|Business Tax, Company Car, Personal Tax, Property Tax, Tax|0 Comments

AUTUMN STATEMENT 25 NOV 15

HIGHLIGHTS

In the first combined Spending Review and Autumn Statement since 2007, the Chancellor’s emphasis was on expenditure. He nevertheless made a range of tax-related announcements, the main ones being:

Stamp duty land tax (SDLT) From 1 April 2016 SDLT rates will be increased by 3% for the purchasers of buy-to-let and second homes. From April 2019, […]

The Annual Staff Christmas Do!

It is that time of year again and by now the decision on the location and format of the staff Christmas do has been decided upon.

At Best Accountancy, we decided it would be a good idea to remind the readers of the general rules relating to this expense both from an employees and an employers […]

By |November 23rd, 2015|Business Tax|0 Comments

Have you got the right company car?

This is question many company directors ask themselves. At Best accountancy we have been asked this many times over.  It is a bit of a minefield area, however, the tax savings are really very significant and well and truly worth investigating.  On some vehicles in fact you can get double tax relief.  If you re […]

By |November 4th, 2015|Business Tax, Company Car, Personal Tax, Tax|0 Comments