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  • Tips & Advice You & Your Business - IR35 - what’s the latest news?
    The new off-payroll (IR35) rules will take effect on 6 April 2020 as planned. However, the last minute review by the government offers some consolation for businesses affected. What’s the full story?
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  • 600+ Business Solutions - Tricky rules on staff meals made clear
    HMRC rules normally ensure that non-cash rewards (benefits in kind) which you provide to your employees are taxed. However, free or subsidised meals provided as a perk can be exempt from tax and NI. How and when can you take advantage?
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  • 600+ Business Solutions - A tax-efficient alternative to borrowing from your company
    If you need cash from your company, you can borrow it rather than take it as remuneration. This can be more tax efficient, but there’s a potentially better alternative worth considering. What is it and how does it work?
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  • Tips & Advice You & Your Business - HMRC updates payroll tool
    HMRC updates payroll tool..New tax year update. HMRC’s Basic PAYE Tools (BPT) is free payroll software for use if you have nine or fewer employees. If you use BPT, and you’re concerned that you haven’t yet received an update to the software for the new tax year, don’t worry. Version 20.0 for the 2020/21 tax year will be released at the end of March 2020. This includes a new function - for the first time you’ll be able to generate printable payslips. PC users. To update the software click “Check...
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  • Tips & Advice You & Your Business - Can I repay salary to save tax?
    Can I repay salary to save tax?..Q. My company has had a particularly good year and I have taken extra dividends from it. I now realise that my income will exceed £100,000 for 2019/20 which means I’ll lose some of my tax-free allowance. Can I repay some of my salary or dividends to prevent this from happening? A. The loss of personal tax-free allowances where your total income exceeds £100,000 in a tax year means you’ll pay between 58.1% and 65% in tax on income between £100,000 and £125,000. Normally,...
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  • Tips & Advice You & Your Business - Record numbers for self-assessment
    A record number of people filed their self-assessment returns by the 31 January deadline. But a record number missed it too! If you’re one of the latter, HMRC has advice for you. What’s the full story?
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  • 600+ Business Solutions - How to respond to an HMRC request for a visit
    A letter from HMRC to say it will be looking into your affairs is never good news. How do you deal with the process without causing stress, so you can get back to running your business quickly with the minimum fuss?
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  • 600+ Business Solutions - Staff uniforms - how to avoid tax costs
    During a compliance check an HMRC inspector warned our subscriber that because of a change to the rules he might face a tax and NI bill for providing their staff with workplace clothing. What’s the inspector referring to?
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  • 600+ Business Solutions - A tax-free perk for being the boss
    A friend has told you that he and his wife are taking a tax-free luxury weekend away on the company. Apparently, because the business has been running a long time HMRC allows this. Is this something you can take advantage of?
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  • Tips & Advice You & Your Business - New employment allowance rules revealed
    New employment allowance rules revealed..Draft legislation. The 2018 Budget proposed new restrictions on the employment allowance (EA) (which reduces an employer’s NI bill by up to £3,000) with effect from 6 April 2020. The government recently published draft legislation to enable the proposal. What’s changing? For 2020/21 and later years employers whose secondary Class 1 NI bill was £100,000 or more in the previous tax year will not be entitled to the EA. If your business runs through a company you must...
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