You occasionally provide entertainment to your employees. How do you ensure that you correctly report anything that is taxable, and how can you take advantage of any exemptions to minimise the liability. Naomi Swan provides the answer below. Staff entertainment for benefit in kind (BiK) purposes is prone to errors. Many businesses under-report it. This...

If your business pays for road fuel, it can recover the VAT element relating to business use. There are different methods for working out the amount reclaimable. Which is the best for your business? Our VAT expert John Craig outlines some options in this article. VAT incurred on the cost of road fuel used by...

You hired a couple of individuals to tidy and clear part of your premises. They’ve completed the job and asked to be paid in cash. The receipt they gave was handwritten on a piece of paper. Might this cause trouble with HMRC? Kenny Logan from the Edinburgh office looks at this in more detail. Employed...

You are the owner/manager of a small company, and you want to buy a new car. What are the different ways of purchasing it and is it more tax efficient to buy the car through the business or pay personally? Naomi Swan advises in this article. You are the sole director shareholder of your company...

From 1 April 2023, companies with profits in excess of £50,000 will see their corporation tax liabilities increase. This also means that relievable expenses will be more valuable, so what can you do to save as much as possible? Kenny Logan from our Edinburgh office explains. New rates From 1 April 2023 a new set...

The First-tier Tribunal (FTT) recently considered whether money from property sales was trading income or capital gains, and if private residence relief was due. The FTT ruling provides useful guidance on both issues. What’s the full story? CASE Mr Campbell bought and sold four properties in little over five years. He made a substantial profit...

You have decided to sell a property that until two years ago was let as holiday accommodation. Since then, you and your family and friends have used it for the occasional weekend. Does the special lower rate of capital gains tax still apply to the gain you make? As you’re probably aware, higher rates of...

If you’re driving an old petrol company car, you and your company could be paying a lot in tax and NI charges. You could purchase a new electric or low emissions car, but is there a cheaper way to cut your tax bill? Tax breaks for electric cars Whilst sales of electrically powered cars hit...

With increasing fuel costs, employees have been asking whether the amount they are reimbursed for business travel in their own car can be increased. The government has recently clarified its guidance on this. What are the rules?  Naomi Swan discusses below. Tax-free mileage rates The HMRC approved tax-free mileage rates for 2022/23 (which are the...

Brexit and the pandemic resulted in many workers leaving the UK to return to their home country. If you have employees dotted around the globe, what are your payroll obligations?  Head of Payroll Joanne Gibson discusses below. If an employee is not tax resident in the UK, generally you don’t need to deduct PAYE unless...