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Employers that provide a company car and pay for the employees’ private fuel create tax, NIC and administrative issues for both parties. Employers will be liable for Class 1A National Insurance charges on the taxable benefit created by the provision of the car and payment of private fuel; unless the employee fully reimburses the private fuel costs, and Employees will Continue Reading

If you are self-employed, as a sole trader or in partnership, and if we assume that your business year end is 31 March, then the profits you earn in the year to 31 March 2014 will form the basis of your tax payments on account for the tax year 2014-15 (unless the year to 31 March 2014 was your final Continue Reading

There is a situation where you might be advised to make an election to pay tax. It arises if you sell your company and accept payment in the form of shares (or certain types of loan notes) from the buying company.  Let’s say that you own all of the shares in your company X Ltd and the original cost of Continue Reading

The following information is reproduced from the GOV.UK website where you can get more information on this topic if required. You can get small business rate relief if: you only use one property its rateable value is less than £12,000 What you get Until 31 March 2015 you’ll get 100% relief (doubled from the usual rate of 50%) for properties Continue Reading