HMRC’s definition of a car

HMRC’s definition of a car

The difference between a company car and a van is not just aesthetic or practical, it has an impact on your tax bill.

Making Tax Digital for VAT

The Finance Bill 2017 proposes HMRC powers to introduce regulations for businesses with turnover above the VAT threshold to keep records digitally (for VAT purposes only) and to submit VAT info to HMRC through MTD compatible software from April 2019. MTD will also be...

Top 5 tax tips

As tax advisors, some themes come up time and time again and so we thought it might be useful to share our Top 5. Salary & dividend mix Owner managers have the benefit of being able to decide how they remunerate themselves with a combination of dividend and...

IHT and business property

What are the inheritance tax (IHT) implications of how business property is held? Trading businesses, whether held as sole traders, partnerships or in a company, generally qualify for 100% business property relief for inheritance tax purposes. Where property used in...

S431 elections

Issuing shares to employees – don’t forget s431 elections Employment related securities is probably one of the most tortuous areas of tax legislation. Contained in ITEPA 2003 it should be considered each and every time shares are issued or value shifts into...

SSE rules & company sales

Changes to Substantial Shareholding Exemption (SSE) rules open new possibilities on company sales Craig Simpson explores how the changes to the SSE rules can lead to an interesting decision for entrepreneurs selling a trading company. The market for company sales...