This site uses cookies to improve your browsing experience and analyse use of our website. By clicking ‘I accept’ you agree and consent to our use of cookies. You can find out more about our cookies here. Find out more

February 2019

Loans to employees

A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.   

Advisory Fuel Rates from 1 March 2019

The advisory fuel rates are changing from the 1st March 2019. These rates apply to employees who claim back fuel expenses when using a company car. The previous rates can be used for up to 1 month from the date the new rates apply.

How long does it take to sell a small business?

The agreed sale price of a small business for sale, is influenced by a number of factors including revenues, business category, the business location, cash flow multiples and of course, the asking price. Although these factors are important in monitoring small business sales another overlooked factor speaks to fundamental market conditions, in particular the amount of time the business spends on the market. It is possible to study the health of the market by looking at the factor of time as it can determine the demand among buyers and expectations of sellers.

Making Tax Digital - Bridging software

Can we still use spreadsheets after MTD comes into force?One of the most commonly asked questions concerning the Making Tax Digital changes coming in from April 2019 concerns whether spreadsheets count as “functional compatible software”.  The answer to this is both yes and no.

Probate fees on the increase

Probate fees are to increase according to a new government consultation, which will see the end of the current flat fee approach and the introduction of a new banded approach based on the value of an estate. 

Would a digital services tax do more bad than good?

In the autumn budget, Chancellor of the Exchequer, Philip Hammond proposed the UK implement a ‘digital services tax’ on sales by technology giants. 

Moore LLP and BDO merger clarification

It has been widely reported in the news that Moore has merged with BDO.

Claiming back VAT on a vehicle purchase

Generally speaking, the purchase of any vehicle where there is any element of private use means any reclaim of VAT may be restricted. HMRC’s website offers the following guidance:

Do you need to outsource your payroll?

In the UK, there are around 1.4 million businesses that employ staff to run payroll in house. 

Self Assessment Update

On Friday 1st February, HMRC announced that over 93% of taxpayers filed their self-assessment tax returns on time and before the 31st January deadline.

  • 1
  • 2
  • Showing results 1 to 10 of 13