Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment.
MTD Digital Links
For VAT periods starting on or after 1 April 2020 (or 1 October 2020 for deferred businesses) your accounting systems must use digital links.
Builders’ VAT Rules Delayed for a Year
The government have decided to delay the start of the proposed VAT reverse charge for supplies by sub-contractors in the construction sector.
Some cars only qualify for 6% tax relief
The latest Finance Act reduced the tax writing down allowance for motor cars that emit more than 110 grams of CO2 to just 6% on a reducing balance basis from April 2019.
How to extract profits from the family company
The start of the new tax year means that shareholders/directors may want to review their salary and dividend mix for 2019/20.
Advisory Fuel Rate for Company Cars
In line with recent reductions in fuel prices, HMRC have reduced their suggested reimbursement rates for employees’ private mileage using their company car from 1 March 2019.
