Articles in category: Tax

Trivial Benefits; A Quick Guide

If you’re an employer and you provide benefits to your employees, these are usually subject to tax and National Insurance. HMRC introduced a new exemption for “trivial benefits”. This means that small gifts to employees and entertainment provided to employees are now exempt for tax and NI. What is a Trivial Benefit? A trivial benefit […]

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Does your business qualify for R&D tax credits?

R&D (Research & Development) is a tax relief scheme which was introduced by the Government in 2000 to help and reward innovative businesses thus allowing them to progress. What is R&D? R&D takes all allowable expenditure incurred during the R&D project and allows you to gross it up by 130% meaning you can effectively deduct […]

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Useful tips for the tax year end!

As the 2018/2019 tax year end approaches, have you thought about doing some last-minute tax planning that could save you money? Here are a few simple tips to help with your tax planning: Dividends If you haven’t already, pay yourself dividends to use up the dividend allowance. Companies with adequate retained profits should contemplate paying […]

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Chancellor confirmed IR35 legislation change for the private sector!

From April 2020, it was verified that contractors working for private businesses will now contribute more to higher tax and national insurance. IR35 legislation first came into force in April 2000. It is an anti-avoidance tax legislation devised to challenge ‘disguised employment.’ In other words, the law generally tackles those people who provide their services […]

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