In a recently decided tax case a self-employed air conditioning engineer, David Keyl, was denied a claim for AIA. He had purchased a van in July 2008 and on 31 March 2009 (the end of his trading year) he transferred his sole trader business to a limited company. Unfortunately, the legislation setting up the AIA includes a provision that relief Continue Reading
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Business use of employees\’ cars
Many employers pay their employees a monthly car allowance to compensate them for the business use of their private vehicles. In most cases this car allowance is treated as remuneration and is subject to PAYE and National Insurance deductions. Additionally, employers may also pay a nominal amount per mile as a contribution to fuel costs. Employers are entitled to pay Continue Reading
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Avoid and report internet scams and phishing
Internet fraudsters are using ever more intricate messages to trick you to part with private information. For example: your bank details and passwords. They may also hide viruses in email attachments that will give them access to your personal computer files. The viruses will usually be activated if you open the attached files. The best way to combat this activity Continue Reading
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Business rates exemptions
Certain property, whether occupied or out of use for a period, may be eligible for exemption from payment of business rates. The GOV.UK website lists the following as potentially eligible: Exempted buildings - certain properties are exempt from business rates. Exemptions include: agricultural land and buildings, including fish farms buildings used for training or welfare of disabled people buildings registered Continue Reading
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