STILL CONSIDERING AN ELECTRIC COMPANY CAR?

There is currently a zero P11d benefit for the drivers of electric cars in 2020/21. The legislation for this change is included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23. The zero taxable benefit also applies to hybrid cars emitting[…]

ESG – WHAT’S IT ALL ABOUT?

Environmental, Social and Governance (ESG) criteria are a set of standards for a firm’s operations. There is growing interest in environmental, social and governance (ESG) considerations in the business community. Many people have strong views and expectations when it comes to corporate behaviour and an appreciation that businesses are part of the solution to many[…]

KEEPING YOUR DATA SECURE WHEN WORKING REMOTELY

With many of us now working from home, making video conference calls, uploading documents and conducting business online, how can firms ensure that their data and systems are secure? UPDATE YOUR NETWORK SECURITY While this should be done regularly, making sure your devices are completely up-to-date with the most recent security patches and upgrades can[…]

GET READY FOR LEAVING THE EU

The United Kingdom leaves the European Union at 11 pm on 31st December 2020 when the transitional period ends. It is still unclear whether a trade deal will have been agreed with the EU by that date, and such an agreement is looking increasingly unlikely. HMRC have started writing to businesses alerting them to important[…]

CAN SOFT SKILLS BE TAUGHT?

A positive attitude, a strong work ethic, innovative mindset and being a team player are just as important to employers as practical skills and academic background. It is important to have teams of people who have the hard skills to do a job, e.g. they’re qualified, have relevant experience, can write code, design a product,[…]

COMPANY VAN OR MOTOR CAR?

The court of appeal have now ruled on the tax status of certain vehicles provided to employees of Coca Cola. The court has upheld the HMRC view that vans with windows and a second row of seats behind the driver are not goods vehicles but motor cars for benefit in kind purposes. Consequently, the income[…]

RECENT CGT UPDATES

REPORTING PROPERTY GAINS WITHIN 30 DAYS Since 6 April 2020 where UK residential property is disposed of, the resulting capital gain needs to be reported and the capital gains tax paid within 30 days of completion of the disposal. There have been a number of teething problems with the new online reporting system and HMRC[…]