by Ruth Clark | Dec 5, 2022 | Tax
Many employers provide a Christmas party or lunch for employees. However, without consideration of the tax implications, the event may trigger unwanted tax liabilities for the employer and the employee. Limited tax exemption The tax legislation contains a limited...
by Ruth Clark | Nov 23, 2022 | HMRC, Tax
The Plastic Packaging Tax came into effect in April this year, and if your business deals with any kind of plastic packaging in relation to your products, you may need to be registered for this. Anyone importing or manufacturing more than 10 tonnes of plastic...
by Ruth Clark | Nov 18, 2022 | Tax
Taxation and Wages National Living Wage for employees aged over 23 to increase from £9.50 to £10.42 an hour from next April. National Insurance contributions secondary threshold will be fixed at £9,100 from April 2023 until April 2028. The Employment Allowance will...
by Ruth Clark | Nov 14, 2022 | Tax
Using Losses: Types of Claim Trade losses may be used in several ways against: Income or possibly against capital gains of the same year or an earlier year Profit of the same trade Income from a company to which you transferred your trade Not all losses may be claimed...
by Ruth Clark | Nov 7, 2022 | HMRC, Tax, VAT
HM Revenue and Customs (HMRC) is reminding Self-Assessment customers that they must declare COVID-19 payments in their tax returns for the 2021 to 2022 tax year. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up...
by Ruth Clark | Oct 31, 2022 | Tax
Contributions to Pensions has two advantages. Firstly, contribution to registered pension schemes is tax free and secondly the growth the scheme attributes is also tax free. Pension income is taxable when the taxpayer retires. Even then it leads to a win-win situation...
