Tax and Business




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Checklist
Confirmation statement checklistThe annual confirmation statement is designed to make sure that each company's records at Companies House are up to date.InformationThe confirmation statement, Companies House Form CS01, needs to be submitted to Compani... Read more
18 Jan 2021
Credits: 1
doc
Letter
Letter to employees regarding trivial benefitsThe tax and NI exemption for trivial benefits is a great way to reward your employees with small gestures. You need to maintain certain records as a matter of best practice.Tax-free rewardsSince 6¬†April¬... Read more
13 Jan 2021
Credits: 1
pdf
Flow Chart
Flow chart - trivial benefits exemptionThe trivial benefits exemption allows employers to make low value gifts and provide tax and NI-free perks to employees, directors and their families. Naturally, there are conditions but these have been made more... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - paying an employee on termination of employmentWhere you pay an employee (or former employee) after they have stopped working for you, you must apply PAYE tax and NI. However, there are special rules for determining what tax code and NI ... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - company car tax calculationWhere an employer makes a car available to an employee or director for private use it counts as a taxable benefit in kind. After each tax year the employer must report the taxable amount of the car benefit to H... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - workplace pensions auto-enrolment All businesses, organisations or persons who employ the services of individuals must consider whether they are required to include them in a workplace pension. This involves assessing the auto-enrolment ... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - taxation of income from jointly owned propertyWhere a jointly owned property is let, determining for tax purposes how much of the income, profits or losses each owner is responsible for is not always straightforward. It depends on the ty... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Claiming the property allowanceThe property allowance is a fixed tax deduction which can be claimed against rents and other income derived from property in place of the actual costs incurred in generating the income. It means that individuals can rec... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - claiming rent-a-room reliefRent-a-room relief is an automatic tax relief which applies to rent and related income received from letting all or part of your only or main home. The relief exempts income up to £7,500 per tax year. Naturall... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - VAT registrationEvery business or organisation that makes taxable supplies of goods or services in return for consideration is entitled to or must register for VAT. Once registered the business etc. must add VAT to the amount it charges ... Read more
15 Dec 2020
Credits: 1