VAT rules on food and drink have always been a grey area, and 2024 saw several legal cases testing these rules. This trend is continuing into 2025, with a key…
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HMRC has updated its rules on how Double-Cab Pickup (DCPU) vehicles are classified for tax purposes, affecting car benefits, capital allowances, and business deductions. What’s changing? Until now, HMRC classified…
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As highlighted in the ‘HMRC Official Rate of Interest Remains At 2.25%’ article, the HMRC rate of interest on beneficial loans looks quite attractive compared to the Bank of England…
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The deadline for reporting shares and securities and share options issued to employees for 2023/24 is 6 July 2024. This is the same as the deadline for reporting expenses and…
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The chancellor’s announcement of a 2% cut in national insurance contributions (NICs) for employees applies to payments on or after 6 January 2024. That doesn’t allow much time to update…
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In recent years many accountants have advised their director/shareholder clients that the most tax efficient method of extracting profit from their family company was to pay themselves a low salary,…
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Where benefits in kind are provided to employees, this will usually result in an income tax charge on the employee and a Class 1A national insurance (NI) charge on the…
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The deadline for filing the P11d forms to report benefits in kind in respect of directors and employees for 2022/23 is 6 July 2023. Note that the original and amended…
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