Company tax


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


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Policy
Employee - provision of home telephone policy If one or more of your employees work from home and need a landline phone for work purposes, you might agree to provide the equipment and pay the rent and call charges. HMRC may argue that a benefit in ki... Read more
UPDATED19 Feb 2018
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Policy
Cars and car allowances policy If you provide your employees with a car you can use a policy to set the terms and conditions of its use. If only a couple of employees have company cars, you might find it easier to include the provision in their contr... Read more
UPDATED16 Feb 2018
Credits: 1
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Letter
If you have a VAT problem and can't find the answer in any of HMRC's published guidance, you can ask it for a written ruling. However, HMRC is often reluctant to provide one and it usually directs you to its guidance. To ensure you obtain the written a... Read more
UPDATED31 Jan 2018
Credits: 1
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Checklist
Making a mistake on your VAT return will result in under or overpaying VAT. This might mean losing out on VAT you can reclaim or underpaying which can result in financial penalties. Our VAT return checklist can help you reduce errors. What to put on ... Read more
UPDATED31 Jan 2018
Credits: 1
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Letter
If HMRC has told you that one of its officers will be visiting you to carry out a PAYE compliance review, it's advisable to make your own check that your records are in good order. You should notify HMRC ahead of the visit of any errors which have res... Read more
UPDATED19 Jan 2018
Credits: 1
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Letter
PAYE compliance review - date not convenient letter HMRC carries out thousands of on-site PAYE compliance reviews at the employers' premises every year. The date proposed might not be convenient for you or your payroll staff and you are allowed to as... Read more
UPDATED19 Jan 2018
Credits: 1
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Letter
Request for closure of enquiry letter If you believe you've given HMRC all the information it has requested, you can ask it to close the enquiry. Your first step is to write a letter asking for the enquiry to be closed or for details of the further in... Read more
UPDATED19 Jan 2018
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Letter
HMRC operates a VAT internal review system to resolve disputes without the time or expenses involved with a formal appeal. If you wish to use this facility you should apply in writing to HMRC within 30 days of the assessment or decision with which yo... Read more
UPDATED19 Jan 2018
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Letter
Costs incurred on financing your company, e.g. loan interest, before it starts to trade are classed as non-trading debits. Normally, tax relief for these can only be obtained by offsetting them against non-trading credits, e.g. interest received, re... Read more
UPDATED22 Dec 2017
Credits: 1
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Letter
If you keep animals for production purposes, you might be able to take advantage of the "herd basis" to simplify calculating your taxable profits. Production Farm animals are treated as trading stock. For tax and accounting purposes these animals are m... Read more
UPDATED01 Dec 2017
Credits: 1