Tax Return Adviser Ltd
Newsletters
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Mitigating the NI rise
The higher NI rates for 2022/23 will mean an employee on the average wage will pay around £230 per year more compared to 2021/22 and the employer will face a similar increase. How can they both legitimately reduce or avoid this extra cost?
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Reduce the CGT on property gains
The tax rates on gains made from selling a residential property are 40% or 80% higher than those for other types of gain. How can sellers use an HMRC approved tax break to reduce the tax bill?
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Important tax announcements from Spring Statement
The Spring Statement isn’t traditionally associated with significant tax changes, but there were some very important highlights from the 2022 version. What are the key points?
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Ensure suppliers don’t charge VAT incorrectly
HMRC officers will often check that a business has not claimed input tax on supplies that should be exempt, zero-rated or outside the scope of VAT. It can only claim correctly charged VAT. What are the three main risk areas that businesses should be aware of to avoid a problem with HMRC?
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Escaping the directors’ NI trap
Payroll software works out the correct amount of NI contributions on employees’ salaries but when a director is appointed or resigns special rules apply which can throw the figures out. What steps can be taken to avoid this trap?
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Taking advantage of exemptions for entertainment
Generally, the cost of business entertainment isn’t a tax-deductible expense. However, it can be where it relates to employees. How far does this exception stretch and does it make staff entertainment tax efficient?
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