by Robert Powell | Jun 8, 2023 | Alerts, Tax Tips
Many employees incur expenses in undertaking their job, i.e. work-related expenses. However, the rules that govern tax relief for employment expenses are notoriously strict. Where the conditions are met, you can claim relief in various ways. Key dates You must make...
by Robert Powell | Jun 7, 2023 | Alerts, Tax Tips
A fuel benefit tax charge arises where you, as the employer, meet the cost of fuel for private journeys in a company car. However, this charge can be avoided by your employee ‘making good’ the cost of fuel for private motoring. Key dates To eliminate the fuel benefit...
by Robert Powell | May 22, 2023 | Alerts
P60, P11D and P11D(b) After the end of the tax year, employers need to provide certain information to employees and to HMRC as regards both pay and deductions and taxable expenses and benefits. Key dates Employees must be given their P60 for 2022/23 by 31 May 2023....
by Robert Powell | May 19, 2023 | Alerts
Carrying back relief The Gift Aid scheme allows the charity to reclaim 25p for every £1 that you donate. In addition, you are able benefit from tax relief on your donation at your marginal rate of tax. You can opt to carry back relief on donations made in the current...
by Robert Powell | May 18, 2023 | Alerts
In the world of taxes, HMRC’s Simple Assessment can be a blessing for those with straightforward tax affairs. However, a recent shift in their distribution method has created some confusion. Key Points: A Simple Assessment is a tax bill issued by HMRC, primarily...
