You have employees who make local deliveries using bikes rather than cars where feasible. Can you still make payments for the business mileage tax free? Naomi Swan CA, based in our Hawick office, discusses below. The tax position will depend on whether the couriers are employees or self-employed. Of course, with HMRC’s increased enforcement action...

P60s are important documents used to summarise an employee’s tax information at the end of the tax year. But what is the deadline for issuing P60s and who needs to receive one?  Natasha Crockatt, from our Payroll department advises. A P60 is an important document that provides a formal statement of an employee’s pay, tax, NI and...

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...

A couple have received conflicting advice about reducing their potential inheritance tax (IHT) liability by making gifts. One view is that they need to survive at least three years from when a gift is made to save IHT. The other advice says they must survive seven. Which view is correct?  Kenny Logan from our Edinburgh...

The rates of the National Living Wage (NLW) and National Minimum Wage (NMW) will come into force from April 2023. The rates which will apply from 1 April 2023 are as follows: Rate from April 2023 Annual increase (£) Annual increase (per cent) National Living Wage £10.42 0.92 9.7 21-22 Year Old Rate £10.18 1.00...

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...