Simplified expenses for smaller businesses

Some small businesses can choose to use the ‘cash basis’ when calculating taxable income, under which participants are taxed on the basis of the cash that passes through their books, rather than being asked to undertake complex and time-consuming calculations designed for big businesses.


New business and tax

If you have an entrepreneurial spirit and are starting a business, tax is often the last thing on your mind. Here we set out some of the things that need to be considered from a HMRC tax perspective




Entrepreneur’s relief – the basics

Entrepreneurs’ relief is there to reduce the rate of capital gains tax to a flat rate of 10% on certain qualifying business disposals. Selling shares in the business that has been nurtured and grown over the years can be an emotional experience as well as it being a significant asset – quite often it can be more valuable than the family home so it’s important to apply Entrepreneurs’ relief correctly.



Are you paying the minimum wage?

Did you know the the National Living Wage (NLW) and National Minimum Wage (NMW) increased from 1 April 2019? From that date, the NLW, payable to workers aged 25 and over, is set at £8.21 per hour.


Will your summer party be tax-free?

In the interests of keeping their staff happy and engaged, some employers organise a summer party. It’s worth considering the statutory exemption which exists and potentially makes it a tax-free benefit.


Tax and using a work’s van

If an employee uses a work’s van for private use, which usually means home-to-work travel, there’s a taxable benefit and a subsequent tax charge.


Tax-free taxis

As an employer do you ever provide your employees with a taxi either to or from work? Possibly for special occasions or related to late night working? Did you know doing so they could trigger a tax liability?


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