Company tax


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


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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
27 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
27 Apr 2018
Credits: 1
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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
20 Apr 2018
Credits: 1
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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
16 Apr 2018
Credits: 1
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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
16 Apr 2018
Credits: 1
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Checklist
Checklist of employment status factorsIf HMRC decides that an individual contractor should have been treated as your employee, it will ask you to pay the tax and NI that should have beendeducted from their pay through PAYE, plus the employers' NI.  T... Read more
05 Apr 2018
Credits: 1
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Letter
VAT voluntary disclosure of error letterIf you discover an error on a VAT return, you will need to correct it. In most cases this can be done simply by amending your next return, but where the error results in an increase in your VAT liability you sh... Read more
22 Mar 2018
Credits: 1
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Letter
Reasonable excuse letterHMRC has a wide range of penalties available to it. Many of these can be reduced while others can be removed completely where you have a reasonable excuse for the action which gave rise to the penalty. Having a reasonable excu... Read more
13 Mar 2018
Credits: 1
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Policy
Employee - provision of home telephone policyIf 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 kin... Read more
19 Feb 2018
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Policy
Cars and car allowances policyIf you provide your employees with a car you can use a policy to set the detailed terms and conditions of its use. However, you must now provide the key information relating to benefits, including company cars, in the wr... Read more
16 Feb 2018
Credits: 1