by Karen | Nov 22, 2021 | Accounting, Benefits, HMRC, Pensions, Tax
The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier due to ill-health). Registered pension scheme cannot normally pay any...
by Karen | Nov 15, 2021 | Accounting, Business Costs, HMRC, Tax
As part of the Government’s push to encourage drivers to ‘go electric’, the Transport Secretary, Grant Shapps, announced an extension to a £50 million Government fund to install electric charge points. The fund aims to help small business to gain access to the...
by Karen | Oct 21, 2021 | Accounting, Childcare, HMRC, Tax
Childcare costs can be very expensive and any help is welcomed, particularly where you can benefit from that help tax-free. There are various routes by which this is possible. Government tax-free top-up scheme Under the Government scheme, you can open an online...
by Karen | Oct 14, 2021 | Accounting, Benefits, Tax
Last year, the Covid-19 pandemic and national lockdown took Christmas parties (other than virtual ones) off the agenda. This year, they may be a temptation to make up for lost time. How can you celebrate the festive season without triggering a tax liability in the...
by Karen | Oct 8, 2021 | Accounting, Financial planning, HMRC, Making Tax Digital, Tax
Making Tax Digital (MTD) is a government programme to move to a digital tax world. HMRC’s stated ambition is to become one of the most digitally advanced tax administrations in the world. MTD involves fundamental changes in the way in which taxpayers keep records and...
by Karen | Sep 30, 2021 | Accounting, Business Costs, HMRC, Tax
Capital allowances are the tax equivalent of depreciation, and the mechanism of providing tax relief for certain items of capital expenditure. However, with the exception of cars, capital allowances are not available where accounts are prepared under the cash basis;...
