Company tax


To help ensure your company pays the least amount of tax possible


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Agreement
Settlement agreementWhen you want to prevent an employee from issuing proceedings in relation to the infringement of their statutory employment rights on termination of their employment, consider going down the settlement agreement route. This is an ... Read more
UPDATED11 May 2018
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Agreement
Company car lump sum contribution agreementIf you wish an employee to contribute towards the purchase price of a company car, it's a good idea to formalise the arrangement. This will reduce the taxable benefit in kind for the car.Capital contributionA... Read more
UPDATED03 May 2018
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Agreement
Company car running cost contribution agreement   ... Read more
UPDATED03 May 2018
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Letter
Employee loan letterWhere an employee or a director owes their employer more than £10,000 at any point during a tax year, a taxable benefit in kind arises. You need to work out the cash equivalent of this. Use this letter to write to any employees w... Read more
UPDATED03 May 2018
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Agreement
Employer/employee company car fuel agreementTo avoid a tax charge arising where you provide an employee with fuel for their company car, have an agreement requiring them to reimburse the cost.Fuel benefit chargeIn addition to the company car benefit, ... Read more
UPDATED27 Apr 2018
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Letter
Letter to HMRC regarding pool car statusA pool car can be very tax efficient but in order to get one past HMRC you'll need to meet some strict conditions. To avoid uncertainty, use this letter to obtain confirmation from HMRC that the terms on which t... Read more
UPDATED27 Apr 2018
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Policy
Employee travel expenses policySince 6 April 2016 responsibility for determining whether business expenses reimbursed to employees and directors are exempt of tax and NI rests with the employer. Therefore, it's good practice to have a travel expenses ... Read more
UPDATED20 Apr 2018
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Agreement
Company van agreementUnlike company cars, you can provide your employees with a company van for business use which includes commuting to and from the workplace. To ensure no benefit arises, any private use must be insignificant.VansIf your company ha... Read more
UPDATED16 Apr 2018
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Letter
Election for alternative maximum age basisCompanies looking to raise finance via an enterprise investment scheme have to receive their first tranche of funding within seven years of their first commercial sale. However, if the company qualifies as a ... Read more
UPDATED16 Apr 2018
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Miscellaneous
Spouse's job descriptionA business can pay a salary to the spouse or other family member of its owner if they work for it. Having a formal job description will help justify the amount paid if HMRC decides to challenge it.spouse's payThe wages paid to a... Read more
UPDATED16 Apr 2018