Personal tax


Because dealing with the Taxman and calculating your own tax can be a nightmare


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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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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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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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Letter
Share loss relief claimUsually, capital losses can only be offset against other capital gains, but in some circumstances losses you incur on certain types of share can be offset against general income.Share lossesLosses incurred on certain qualifying... Read more
UPDATED16 Apr 2018
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Checklist
tax planning checklist 2017/18Each tax year there are a number of tax allowances, exemptions and rate bands which if not utilised are essentially wasted as you cannot carry them forward. We've put together a handy checklist to help you avoid overlookin... 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
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Document
Loan waiver deedIf you lend someone money and later write to them releasing the debt, it will still remain part of your estate for inheritance tax (IHT) purposes. To count for IHT purposes the waiver must be made by deed. Reduce your estateWhere a lo... Read more
UPDATED05 Apr 2018
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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
UPDATED05 Apr 2018