News
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Travel and subsistence benefits
- 27th March 2024
- Posted by: admin
- Category: News
No CommentsThere is no requirement to report certain routine expenses to HMRC. The travel and subsistence benefits that do not need to be reported include reimbursed costs to employees covering business travel. Subsistence includes meals and any other necessary costs of travelling, for example parking charges, tolls, congestion charges or business phone calls. As an alternative
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Keeping VAT records
- 21st March 2024
- Posted by: admin
- Category: News
HMRC’s VAT Notice 700/21: keeping VAT records has recently been updated. The reason for any zero rate or exemption has been removed from the list of details you must include on a VAT invoice. The notice provides VAT registered businesses with useful guidance on the records they must keep as well as providing advice on
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What a tax code means
- 21st March 2024
- Posted by: admin
- Category: News
The letters in your tax code signify your entitlement (or not) to the annual tax free personal allowance. The tax codes are updated periodically and help employer’s work out how much tax to deduct from an employee’s pay packet. The basic personal allowance for the current (and next) tax year is £12,570. The corresponding tax code
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Apprenticeships boost
- 19th March 2024
- Posted by: admin
- Category: News
From the start of April 2024, the government will increase the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses. Apprenticeships can currently be funded by a levy paying employer transferring up to 25% of their unused levy to a different employer. Under the new measures, large employers
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VAT claims by non-UK businesses
- 14th March 2024
- Posted by: admin
- Category: News
There are special rules for businesses established outside the UK to submit a claim for VAT incurred on goods or services bought in the UK. The rules that determine what VAT is refundable are complex. There are also a number of conditions which must be met for a claim to qualify. The deadline for the submission of
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Eligibility for replacement of domestic items relief
- 14th March 2024
- Posted by: admin
- Category: News
The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available based on the cost of domestic items such as free-standing wardrobes, curtains, carpets, televisions, fridges and crockery. In order for relief to be given, four conditions must
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Tech companies assist with fuel price transparency
- 12th March 2024
- Posted by: admin
- Category: News
Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists. Price comparison sites and map apps will have access to this new data as part of the government’s PumpWatch initiative, which aims to drive
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Updated guidance on reporting hybrid working for sponsored workers
- 11th March 2024
- Posted by: admin
- Category: News
In spring 2023, the government updated part 3 of its sponsor guidance for workers and temporary workers to provide that employers must notify UK Visas and Immigration (UKVI) if a sponsored worker’s normal work location, as recorded on their certificate of sponsorship, changes, including where the worker is to work remotely from home or is
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Spring Budget 2024 – Fuel Duty rates
- 7th March 2024
- Posted by: admin
- Category: News
In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the rising price of fuel places a huge burden on families and businesses. The government was under considerable pressure from consumer and business
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Budget summary 6 March 2024
- 6th March 2024
- Posted by: admin
- Category: News
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a government in a general election year. The impact of tax changes announced are summarised below. Impact on personal finances Further fall in