Q&A

News by Category

May Q&A

3rd May 2021
Expenses for travel to temporary workplaces Q. In April 2020 we furloughed an employee who since June 2019 had been temporarily working away from her normal workplace. She is about to return to work at the temporary location and is expected to be there for the next six months at least. We have always paid...

December Q&A

1st December 2020
Is there VAT on renting out farmland? Q. I have agreed to rent a field from a farmer who is unsure whether he must charge VAT. As far as I am aware, as long as he has not opted to tax the land he does not charge VAT. Is this correct? A. The answer here...
VAT claim for a personally owned van

Q&A – VAT claim for a personally owned van

2nd March 2020
Q. I’m the only director of my company and I own all its shares. I bought a van in my name but I intend to use it in the company’s trade. Can the company reclaim the VAT included in the purchase price? A. If the van was purchased and used privately or for a different...
tax

Q&A – A tax-free perk for being the boss?

2nd March 2020
Q. A friend has told you that he and his wife are taking a tax-free luxury weekend away on the company. Apparently, because the business has been running a long time HMRC allows this. Is this something you can take advantage of? A. Tax rules include a surprisingly long list of benefits in kind which...

Q&A – Can I claim a mileage allowance while using a courtesy car?

2nd March 2020
Q. I’m a director and co-owner of a company. I use my own car for business journeys for which the company pays me a mileage allowance at HMRC’s official rates. Last month my car was off the road for over three weeks for repair and the insurance company provided me with a courtesy car. Apart...

Q&A – Is a working holiday tax deductible?

2nd March 2020
Q. Mr Jones has arranged to add on a couple days to his family holiday so he can visit colleagues to discuss work matters. His accountant has told him that he can’t claim any of the costs relating to the trip. Is this correct? A. As you probably already know about the general rule for...

February Q&A

1st February 2020
Can I change my mind about a dividend? Q. In 2019 my company paid me cash adding up to over £25,000. This was charged to my director’s loan account (DLA), and at the company’s year end (31 December 2019) I still owed the money. My accountant says because of this the company will have to...

January Q&A

7th January 2020
VAT on overseas work? Q. I am VAT registered as a window cleaner. I visit my mother in Dublin for one week every two months and do some work while I am there. Do I need to charge VAT on this work or is it not an issue because I am doing the work outside...

December Q&A

27th November 2019
Q. My parents stay in and pay the mortgage on my house, is this classed as rental income? I have owned a house for 12 years which I don’t currently live in. My parents live in the house and they pay me just enough money each month to cover the mortgage payments. Should I pay...

NOVEMBER Q&A

31st October 2019
Claim VAT on a new house build? Q. My wife and I have just bought a plot of land. We intend to build a new house on the land and sell it. Can we register for VAT and claim input tax on our building costs? A. The answer is yes, but there are two important...