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  • Tips & Advice You & Your Business - Protecting your workers - tax relief on costs
    Our subscriber is spending money on protective measures in preparation for his employees returning to work. He wants to know if there are any special measures to allow tax relief for these?
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  • Tips & Advice You & Your Business - HMRC makes time to pay easier
    Businesses and individuals struggling with tax bills can agree a repayment schedule with HMRC. This is often easier said than done but has recently been made simpler. What’s the full story?
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  • 600+ Business Solutions - The dangers of accessing your pension savings
    A friend has told you that he’s helping himself through the current cash shortage by drawing from his pension savings and when business returns to normal he’ll replace the money. Is this something worth considering?
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  • Tips & Advice You & Your Business - Paying a furloughed employee’s bills
    Paying a furloughed employee’s bills..Q. One of our furloughed employees has run into financial problems and while we can’t afford to put him back on full pay we have decided to help him by making a payment towards his credit card bill. How should the payment be dealt with in our payroll system? A. There are a few aspects of the arrangement you need to take care with. First, if you’re claiming and paying the employee the Coronavirus Job Retention Scheme grant you can choose to top this up to the level...
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  • Tips & Advice You & Your Business - Donating to charity - tips and traps
    One of our subscribers wishes to donate to a charity helping those affected by coronavirus. He wants his gift to be tax efficient so that the charity gets the most from it. Should he therefore donate personally or from his company?
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  • Tips & Advice You & Your Business - Are home to work travel costs tax deductible?
    Are home to work travel costs tax deductible?..Q. My staff and I are working at home during the coronavirus lockdown but occasionally someone has to visit the office to collect post etc. Can a tax deduction be claimed for the cost of travel between home and work or can my company pay a tax and NI-free mileage allowance? A. You’re no doubt aware that the cost of travel between home and your normal workplace by car or any other means is not tax deductible. However, if you have two or more normal workplaces the...
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  • 600+ Business Solutions - Budget measures for businesses and their owners
    The delayed Budget finally happened on 11 March 2020. It confirmed some anticipated changes and included one or two surprises. Generally, the measures were well received but they weren’t all good news. Will you and your business be better or worse off?
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  • 600+ Business Solutions - An extra pair of hands
    Your business is approaching a busy period and you could do with an extra pair of hands to share the load. Can you employ family members and if so what are the tax and employment law consequences?
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  • Tips & Advice You & Your Business - Off-payroll tax changes postponed
    Off-payroll tax changes postponed..IR35 goes viral. The government’s proposed amendments to the off-payroll working rules, more commonly referred to as IR35 , have fallen victim to the coronavirus. The changes, which shifted the responsibility for deciding if the off-payroll rules apply from the worker to their customer, have been deferred until 6 April 2021. Awkward timing. For the workers who were affected by the new rules it’s good news. However, many of the businesses they work for have already put...
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  • Tips & Advice You & Your Business - Too late to pay a dividend?
    Too late to pay a dividend?..Q. I’m the only director and shareholder of a company. For tax purposes it would suit me to treat some of the drawings I took from the business earlier this year as dividends for 2019/20 but my accountant says I can’t. I don’t understand their explanation for this. Are they correct? A. Generally, HMRC expects payments you receive from your company to have an identity, e.g. salary, reimbursed expenses etc., and once designated it’s not possible to recategorise them. However,...
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