Are you getting ready for 1 April 2019?
There are two major changes to the VAT system on the way – both around April fools day
Beware the potential tax pitfalls of the office Christmas party
At this time of year we remind employers that the cost of parties and staff functions are not taxed on employees as a “benefit” if the amount is less than £150 per attendee. In most cases it is clear whether or not the cost is within, or over those limits. The limit is a cliff-edge; if the cost is £151 each, the full amount is taxable.
Further worries for business owners?
With the prolonged uncertainty of Brexit continuing on the horizon and with no sign of clarity any time soon, what a business owner craves the most is certitude so that they can make informed decisions for the current and future benefit of themselves and their employees.
Entrepreneurs’ Relief – easy as A, B, C?
During the Budget, the Entrepreneurs’ Relief (ER) rules were tightened by an extension of the ‘5% rule’.
Huge increase in probate fees re-introduced
Unlike those people whose estates it potentially affects, the proposal has made it back from the dead having been re-tabled on 5 November 2018.
Budget 2018: How much Capex can my business get Tax Relief for? Use our calculator to find out
During his Budget speech on 29 October 2018 the Chancellor Philip Hammond announced a 2 year increase in the Annual Investment Allowance (AIA) from the current £200,000 level to £1m.