Personal tax

Company car lump sum contribution agreementThe taxable benefit in kind for a company car can be reduced if the director or employee the car is made available to contributes to the cost of its purchase. Capital contributionA capital contribution made ... Read more

Company car running cost contribution agreementIf an employee or director is required to and actually pay their employer towards the running costs of their company car it reduces the taxable benefit in kind. To ensure the contribution is effective th... Read more

Employer/employee company car and van 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 b... Read more

Employee travel expenses policyResponsibility for determining whether business expenses reimbursed to employees and directors are exempt from tax and NI rests with the employer. Therefore, it's good practice to have a travel expenses policy in place. ... Read more

Share loss relief claimUsually, capital losses can only be used to reduce capital gains but in some circumstances they can be used to reduce tax on income.Share lossesLosses incurred on certain qualifying company shares are eligible for special treat... Read more

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 been deducted from their pay through PAYE, plus the employers' NI.  ... Read more

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

letter turning down an interviewThere is no statutory obligation to attend an interview with HMRC. If HMRC requests a meeting, but you're satisfied that there's no advantage to having one at this stage of the enquiry, you can write, declining a meeting... Read more

Claim to pay capital gains tax in instalments For individuals, capital gains tax is payable by 31 January following the end of the tax year in which the gain occurred. Usually you'll have enough money from the transaction to pay the tax. However, proc... Read more