May 2022

News Posted

Are electric cars worth the salary sacrifice?

20th May 2022
With climate change and the cost-of-living crisis high on everyone’s agenda, is this a good time to look at an electric company car policy? What benefits would such a scheme bring? Brona MacDougall advises. Company cars have fallen out of favour in recent years as tax charges have risen and the optional remuneration arrangement changes...

Higher fuel rates for company cars?

10th May 2022
HMRC recently updated its advisory fuel rates for company cars. However, the new rates don’t even come close to reflecting the current pump prices. Can you pay employees a more realistic rate? Naomi Swan advises. If you provide employees with company cars, you are entitled to pay them a fuel rate to reimburse them for...

Keep it in the family?

5th May 2022
Within a family-run business it is naturally very common to employ family members. Whilst this does allow for more tax-deductible money to stay within the family, there are issues and potential minefields that you should be aware of. Helen Johnstone advises. When it comes to employing family members and putting their wages through the books...

Dilapidated property – repair or improvement?

5th May 2022
If you are carrying out repairs to a dilapidated property, this may be treated as capital expenditure rather than revenue expenditure. Brona MacDougall explains the position regarding tax relief. Buying a property and doing it up for letting out can make good financial sense, however, repairs and renovations are expensive, so it is important to...