by Karen | Sep 4, 2020 | Accounting, Business Costs, Covid-19, HMRC
Sadly, not all businesses will survive the Covid-19 pandemic, and many may take, or be forced to take, the decision to close where losses make the business untenable. The tax legislation provides various relief for losses including a special relief for losses made in...
by Karen | Aug 25, 2020 | Accounting, Business Costs, Covid-19, HMRC
The Covid-19 pandemic has seen many employees being required to wear personal protective equipment (PPE) at work. The way in which this is provided and the extent that it is needed to enable the employee to undertake the duties of their employment will determine the...
by Karen | Feb 19, 2020 | Accounting, Business Costs, HMRC
From 6 April 2020, new appropriate percentage bands – and new lower charges for low emissions cars – will apply for company car tax purposes. From the same date, the way in which carbon dioxide emissions are measured is also changing. This means that in order to find...
by Karen | Jan 13, 2020 | Accounting, Business Costs, HMRC, Payroll
Mistakes happen, and it can be very easy inadvertently to pay an employee too much when doing the wages. Perhaps a number was keyed in incorrectly or figures were transposed, or maybe commission was overstated or an employee was paid for more overtime hours than they...
by Karen | Dec 23, 2019 | Accounting, Business Costs, HMRC, Tax
Employees frequently use their cars for work and may be paid a mileage allowance by their employer for doing so. Employers are generally familiar with the rates that can be paid tax-free; however, it is easy to assume (wrongly as it happens) that the same rules apply...
by Karen | Dec 17, 2019 | Accounting, Business Costs, HMRC, Tax
The way in which relief for capital expenditure is given depends on the way in which the accounts are prepared. For companies, and for sole traders and partnerships not eligible to use the cash basis, accounts must be prepared using the traditional accruals basis....
