by Ruth Clark | Dec 10, 2021 | Tax
1. Mileage. If the mileage allowance that your employer pays you is less than the HMRC rate, you are able to claim the balance. The first 10,000 business miles, according to HMRC, can be claimed at a rate of 45p per mile. Over 10,000 miles the allowable HMRC rate...
by Ruth Clark | Dec 3, 2021 | Tax
A staff party or an annual function qualifies as a tax-free benefit for your employees. The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150 is a limit and not an...
by Ruth Clark | Nov 26, 2021 | Tax
What does this mean for Businesses? Rapidly rising inflation can mean consumers are more cautious about making discretionary purchases and it’s a good idea to avoid sudden price rises that encourage consumers to look around for cheaper alternatives. A gradual plan...
by Ruth Clark | Nov 22, 2021 | Tax
Employees in the UK are chargeable to income tax on their net taxable earnings. These earnings are made up of the employees’ cash earnings, such as their salaries, wages, and any bonuses, as well as any benefits-in-kind they might receive. Benefits-in-kind are...
by Ruth Clark | Oct 28, 2021 | Tax
On 27 October 2021, Chancellor Rishi Sunak gave his second Budget speech of the year. As significant tax changes had been announced in the March Budget, this was widely expected to be more about spending than taxation. Many of these spending plans had been announced...
by Ruth Clark | Oct 25, 2021 | Tax
To become a net-zero economy by 2050 the UK will remove carbon from power generation, switch to electric vehicles and begin to remove gas boilers from homes, according to the government’s Net Zero Strategy, published on 19 October. The government is required to reduce...
