New NI exemption for 2016/17

Oct 12, 2015 | General

Apprentices. HMRC has confirmed that starting from 6 April 2016 employers will be entitled to an exemption from secondary Class 1 NI contributions in respect of wages for employees who are apprentices and aged under 25 at the time they are paid. Note. The exemption...

Tax Question of the Week

Sep 22, 2015 | General

Q. My client is a limited company. The sole director shareholder travels in a busy city centre. In order to save on travel costs the company is considering purchasing a motorbike. He is concerned that there will be a significant benefit in kind charge. Can you please...

The end of tax motivated incorporation?

Sep 7, 2015 | General

The Summer Budget 2015 contained some key measures that were a thinly veiled attack on small business owners. What do you need to be aware of? Dividends. Perhaps the most controversial announcement was the overhaul of tax on dividends. From April 2016 the notional...

It’s P11D time!

May 20, 2015 | General, Payroll, Personal Tax

HMRC has released its 2014/15 benefits and expenses Form P11D plus updated guidance to go with it. Is there anything new to watch out for? P11D deadline. It’s that time of year when you need to turn your attention to preparing the dreaded Forms P11D . A form is needed...

Tax clampdown on goodwill.

Feb 26, 2015 | General

Companies have been allowed to claim a tax deduction for the cost of goodwill since 2002. In the autumn Statement it was announced that this will now be restricted but when and how will this take effect? In 2002 HMRC expanded the right of companies to claim tax...