Check out the Trivial Benefits rules

May 16th, 2024

Trivial benefits are small gifts or perks given to employees that are exempt from tax and benefit reporting obligations. But bosses must adhere to certain conditions, such as a cost limit of £50 per employee – or the average cost per employee if provided to a group of employees. Additionally, the benefit cannot be cash […]


Death and taxes

May 14th, 2024

Death and taxes are certainties of life, according to Benjamin Franklin, and if you are in business, you should be aware which taxes you are liable to pay. Our mantra is – by understanding the taxes that your business is required to pay – you can plan and budget accordingly. No surprises… There are several […]


What to expect in the coming year

May 8th, 2024

It will not have escaped your attention that Prime Minister Sunak will need to call a general election at sometime during 2024. The very latest election date that can be held is 28 January 2025. If results follow the polls, we are likely to see the Labour Party in charge once more. New brooms Politics […]


Companies House is flexing its muscles

May 7th, 2024

As we have reported previously, one of the key aims of the Economic Crime and Corporate Transparency Act is to improve the accuracy and quality of the data on Companies House registers. Under the new legislation, Companies House has enhanced powers to query information that appears to be incorrect or inconsistent with information held. It […]


Payrolling employee for expenses and benefits

May 7th, 2024

Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and removes the requirement to complete a P11D for the selected benefits at the tax year end. The deadline for submitting […]


Tax Diary May/June 2024

May 2nd, 2024

1 May 2024 – Due date for corporation tax due for the year ended 30 July 2023. 19 May 2024 – PAYE and NIC deductions due for month ended 5 May 2024. (If you pay your tax electronically the due date is 22 May 2024). 19 May 2024 – Filing deadline for the CIS300 monthly […]


Claim tax relief on pension contributions

May 2nd, 2024

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. This means that if you are: A basic rate taxpayer, you get 20% pension tax relief. A […]


Accessing the HMRC mobile APP

May 2nd, 2024

HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality. The app can be used to see: your tax code and National Insurance number; your income and benefits; your income from work in the […]


Payrolling employee expenses and benefits

May 2nd, 2024

Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and removes the requirement to complete a P11D for the selected benefits at the tax year end. Registration is now open […]


Childcare Account chores

May 2nd, 2024

HMRC’s Childcare Account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare. HMRC’s sign in page for the account states that in order ‘…to keep getting free childcare or Tax-Free Childcare, you must sign in every 3 months and confirm your details are up to date’. There are various eligibility […]