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Tax treatment of loans to employees
Employees may receive a taxable benefit where an employer provides a loan that is interest-free or charged at a rate below HMRC’s official interest rate (currently 3.75%). The benefit arises from the
Employee travel expenses
There is no requirement to report certain travel and subsistence expenses where an exemption applies. The travel and subsistence benefits that do not need to be reported include reimbursed costs to
The benefits of Fair Payment Code accreditation
Getting paid on time remains one of the biggest challenges facing many small and medium-sized businesses. Late payments can place pressure on cash flow, increase borrowing requirements and divert
Companies House steps up enforcement activity
Companies House is entering a new era of enforcement as it begins making greater use of the powers granted under the Economic Crime and Corporate Transparency Act. The aim is to improve the accuracy
Salaried members of LLPs
Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member’s terms of membership are more akin to the
Understanding your tax code
Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension.
Most people with one
Claiming tax relief on charitable donations
When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your
Tax-free benefits in kind from your employer
The range of benefits that can be provided tax-free by an employer is relatively limited, but there are several common exemptions that apply where certain conditions are met.
Meals provided in a
Understanding your National Insurance record
Your National Insurance record can be checked online to see what contributions and credits you have built up and whether you have any gaps that may affect your State Pension.
The record shows how
Capital Gains Tax if selling shares or investments
Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has increased in value. It is the gain itself that is taxed, not the total amount you receive. For
