national living wage – is your business ready for 1 April 2020?
From 1 April 2020, nearly three million workers are set to benefit from increases to the National Living Wage (NLW) and minimum wage rates for younger workers, according to estimates from the independent Low Pay Commission. The compulsory NLW is the national rate set for people aged 25 and over. [...]
using company vans for tax-free home to work travel
As a general rule, travel between home and work is regarded as private travel and if the employer meets the cost of that travel, a benefit-in-kind tax charge will be triggered. However, it is possible for employees with a company van to use that van to travel between home [...]
IT consultant held contract for services
HMRC’s application of the IR35 rules remains ambiguous after an IT contractor successfully appealed to the First Tier Tribunal (FTT) against a tax charge arising under the intermediaries' legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the FTT allowed an appeal against HMRC's determination that IR35 applied because [...]
party time for small companies
Although there is no specific allowance for a Christmas party, or any other employer-provided social function, HMRC do allow limited tax relief against the cost of holding an ‘annual event’ for employees, providing certain conditions are met. Broadly, the cost of staff events is tax deductible for the business. Specifically, [...]
weighing up LLPs
A limited liability partnership (LLP) is similar to an ordinary partnership in that a number of people or limited companies join together and share the costs, risks, and responsibilities of the business. They also take a share of the profits and pay income tax and NICs on their share [...]
