Contact us

Get in Touch

0118 962 3702
working

The van and fuel benefit charges 2023/24: What You Need to Know

taxation of company vans

A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is also provided for private journeys, a separate fuel benefit tax charge arises. The van and fuel benefit charges for 2023/24 have now been announced. Van benefit charge The van benefit … Read more

Mileage allowance payments

Approved mileage allowances

To save work, employers can pay employees a mileage allowance if they use their own car for business journeys. The Government have recently cleared up confusion as to what can be paid tax-free, confirming the maximum tax-free amount. Mileage allowance payments The approved mileage allowance payments system is a simplified system that allows employers to … Read more

Take advantage of the dividend allowance

Family business

Where a business is operated as a family company, it is necessary to extract the profits from the company in order to use them outside the company for personal use, such as to meet living expenses. Extracting profits may trigger further tax and National Insurance liabilities, and when formulating a strategy, it is advisable to … Read more