If you or your employees are members of the Childcare Voucher Scheme, then you need to be aware of the changes that came into effect on 4 October 2018. In summary: The Childcare Voucher Scheme is no longer be available to new applicants. A new scheme ‘Tax-Free Childcare’ is now available subject to eligibility. Existing […]
Archive | Your Tax & NI
Tis the season of giving… Taxes, Expenses and Benefits
By Hannah Collier on 19th December 2017 in Advice for small businesses, Expenses & Benefits, VAT, Your Tax & NI
With the festive season here already (where did the year go!) it is easy to get carried away with too much good cheer. And while your employees and customers might well deserve a special treat to thank them for their work and support, it’s important as a business, that you stay the right side of […]
The tax position on giving Christmas gifts to your best customers
By Hannah Collier on 19th December 2017 in Advice for small businesses, Expenses & Benefits, VAT, Your Tax & NI
Like in our previous post “Giving gifts to charities or employees. Tax deductible or not?” giving gifts to customers and suppliers falls under the category of “entertainment”, which would mean the cost of the gifts is not tax deductible. However if: the gift is promotional in nature (ie it’s branded with the company logo) and […]
Giving gifts to charities and employees. Tax deductible or not?
By Hannah Collier on 19th December 2017 in Advice for small businesses, Expenses & Benefits, VAT, Your Tax & NI
Generally speaking the giving of Christmas gifts to employees falls under the category of “entertainment” and therefore the cost of the gifts wouldn’t be tax deductible. However, there are some exceptions If the gift incorporates a clear advertisement for the business (ie it’s branded with the company logo) then it could be tax deductible, but… […]
Is it an allowable expense? Treating customers to festive feasts
By Hannah Collier on 19th December 2017 in Advice for small businesses, Expenses & Benefits, VAT, Your Tax & NI
The Festive season is the perfect time to take your best (or favourite!) customers out for a bite to eat and say thank you for their support of your business over the last year. While Christmas Gifts are also a popular choice for saying thank you, you may be undecided which is the best option […]
Tax implications of employee Christmas parties
By Hannah Collier on 19th December 2017 in Advice for small businesses, Expenses & Benefits, VAT, Your Tax & NI
When thinking about tax implications for your business, there are three key considerations when planning a staff Christmas party: is the cost of the party an allowable expense for business tax purposes? does a Christmas party fall under the category of a “benefit” and will my employees be taxed? can I recover VAT on the […]
Taking Control of Your Tax Code
Right folks, the 6th April 2015 marks the start of the new tax year and for most people new tax codes. It has already been announced that the tax code to be used for most people born after 5th April 1948 with one job, will be 1060L, but do you really know what this means….? […]
