Your business makes lots of deliveries by van to clients and quite often drivers have to park on double yellow lines as there is no available parking nearby. The result is quite a lot of Penalty Charge Notices (PCNs) issued by the local authority or the police. Your drivers are [...]
The use of social media in businesses has rocketed over the last few years as it is a great way to communicate with a wide audience. If you’re not an active user you could be missing out on vital chances to communicate with your clients. The easy way to reach [...]
Research and Development (R&D) tax relief can provide additional tax deductions and enhanced cash flow for companies. HMRC have introduced ‘Advance Assurance’ which enables small companies to confirm their entitlement to R&D tax relief. R&D tax relief can allow a company to claim an additional corporation tax reduction of 26% [...]
The National Living Wage (NLW) came into effect in April 2016 for workers aged 25 and over and has caused many businesses to consider their remuneration policies for employees. The initial rate of £7.20 is a 50p increase in the rate that used to apply. In terms of detailed rules, [...]
With pension auto enrolment applying to more and more employers, we look at the options for using a salary sacrifice scheme to deliver tax savings for the employer and the employee. Salary sacrifice takes place when an employee gives up the right to part of their remuneration in return for [...]
The Gift Aid scheme is now 25 years old. In its first year charities benefitted with £10 million of tax savings. In 2014/15 the savings were worth nearly £1.2 billion. The tax savings arise because Gift Aid donations from individuals are deemed to be paid by those individuals net of [...]
Perhaps the most significant announcement in the recent Budget was the news of the Lifetime ISA. A few commentators are suggesting that many taxpayers in their 20s and 30s will ditch saving into a pension scheme and will view the Lifetime ISA as the better way to save for their [...]
The Marriage Allowance lets certain individuals transfer 10% of their personal allowance to their spouse or civil director. This reduces the tax bill of the recipient of the transfer by up to £212 in 2015/16. The main scenario in which the transfer is allowed and worthwhile is where: one of [...]
Reviewing is an essential part of day-to-day business management. You review your team with appraisals and your finances with balance sheets, so why not review your website performance? Google Analytics is a free and easy to use online service that allows you to access information about the visitors on your [...]
Owner managed companies often seek to minimise the tax position of shareholder-directors by involving members of the same family and using personal reliefs and lower rate tax bands of each person. Income is therefore diverted from the higher rate taxpayer. However, anti-avoidance rules need to be considered as to whether [...]