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What are integral features?

25 Oct, 2017

The term capital allowances is used to describe the allowances available to businesses to secure tax relief for certain capital expenditure. The rules that govern the purchase of capital equipment such as computer equipment, vehicles and machinery by businesses are different to those for day to day business expenses claims.

Buying an electric or low emission car

25 Oct, 2017

Businesses can claim a 100% first-year allowance (FYA) on the purchase of certain qualifying Plant and Machinery (P&M). In certain circumstances they can also claim FYA’s on the purchase of low CO2 and electric vehicles. The generous Annual Investment Allowance (AIA) does not apply to cars.

Fine wine investment scam

25 Oct, 2017

A recent investigation by the Insolvency Service has seen two directors of a company selling fine wines disqualified for a total of 20 years. Crimson Fine Wines Limited cold-called customers and offered them the opportunity to take part in fine wine investment scheme offering high returns over periods varying from 12 months to five years.

First phase of employment tribunal fees refund scheme launched

24 Oct, 2017

The government has launched the first phase of its refund scheme for employment tribunal fees, following the Supreme Court's judgment in July 2017 in R (on the application of Unison) v Lord Chancellor 2017 that the fees regime was unlawful. The first phase will last for about four weeks, thereafter full details of the scheme, including details of how it can be accessed, will be made available once it is fully rolled out.

Employment tribunal fees refund scheme launched

24 Oct, 2017

The government has launched the first phase of its refund scheme for employment tribunal fees, following the Supreme Court's judgment in July 2017 in R (on the application of Unison) v Lord Chancellor 2017 that the fees regime was unlawful. The first phase will last for about four weeks, thereafter full details of the scheme, including details of how it can be accessed, will be made available once it is fully rolled out.

Tax Diary November/December 2017

23 Oct, 2017

1 November 2017 - Due date for corporation tax due for the year ended 31 January 2017.

19 November 2017 - PAYE and NIC deductions due for month ended 5 November 2017. (If you pay your tax electronically the due date is 22 November 2017.)

19 November 2017 - Filing deadline for the CIS300 monthly return for the month ended 5 November 2017.

19 November 2017 - CIS tax deducted for the month ended 5 November 2017 is payable by today.

Bereavement leave for parents who lose a child

19 Oct, 2017

The Parental Bereavement (Leave and Pay) Bill has been published by the government. Although the Bill is a Private Members’ Bill, it has the full support of the government and therefore the Bill and its explanatory notes have been prepared by the government with the consent of the relevant MP. It is due to have its second reading in the House of Commons on 20 October 2017.

Non-residents selling UK home

18 Oct, 2017

A capital gains tax (CGT) charge on the sale of UK residential property by non-UK residents was introduced in April 2015.

Is it a car or a van?

18 Oct, 2017

The First-Tier Tribunal recently heard three appeals that examined whether vehicles supplied to employees were vans or cars. The main appellant in this case was Coca-Cola European Partners GB Ltd (Coca-Cola) who supplied vehicles to a number of their employees.

Until 1997, Coca-Cola’s technicians had used estate cars but the amount of equipment that the employees needed would no longer fit in an estate car and Coca-Cola moved to supplying a choice of three different types of vans to its employees.

Managing staff experiencing mental ill health

18 Oct, 2017

Acas has launched new guidance to help employers manage staff who are experiencing mental health issues. The new guidance aims to help managers develop the right skills to support employees as well as to create a culture of well-being in the workplace. It includes advice on:

What is a 'K' tax code?

18 Oct, 2017

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually, or when an employees circumstances change, and help employer’s work out how much tax to deduct from an employee’s pay packet. 

Inactive companies and Corporation Tax

18 Oct, 2017

There are a number of scenarios where HMRC would consider a company or organisation to be inactive for Corporation Tax (CT) purposes. This is a different categorisation to a 'dormant' company and usually happens when a company has not commenced trading.

A company, whilst not yet active for CT purposes, can still carry out activities (known as ‘pre-trading activities’) or incur costs (known as ‘pre-trading expenditure’).

HMRC’s guidance states that activities or expenditure that are not considered trading by HMRC for CT purposes include:

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