As well as the more obvious practical differences, the difference between a company van and a company car also has an impact on your tax bill. But in March 2019 the Upper Tribunal upheld two differing decisions over ‘combi’ vans provided to employees for private use. Kevin Crowford discusses the tax implications and brings you...

The latest Making Tax Digital policy update from HMRC means that supplier statements can now be used to record expenses for input tax purposes, that’s a big time saving for the many businesses which use spreadsheet accounting. MTD for VAT was introduced for all UK businesses making annual taxable supplies of more than £85,000 for...

If you are a businesses involved in the supply of construction services, from 1st October 2019, you will need to change how you account for VAT. This is when the Construction Services Domestic Reverse Charge (CSDRC) is introduced, VAT expert John Craig takes a closer look. If you are a supplier making a supply of...

You have reviewed your business premises and realise that you have surplus space that could potentially be sub-let to another business. But what are the VAT issues that need to be considered before you make this decision? Kevin Ferguson  takes a closer look. LIABILITY OF RENTAL INCOME The starting point is that income you receive...

Putting spouses and children on the payroll of your business can be tax efficient as long as HMRC are willing to accept the validity of doing so, but where do you stand if they decide to challenge your claim for a tax deduction? Tax expert Brona MacDougall provides you with some very good advice. In...

ISAs are a popular tax-free saving product. In recent years they’ve been revamped and there are now a few types to choose from with different options, limits and benefits. But are you investing in the right one for you? Four kinds of ISA There are four kinds of ISA you can invest in: cash; stocks...

In this article we answer some well-constructed questions on the issue of reduced and zero-rated VAT on building projects. If you are involved in the construction industry, deliver trades and services or are planning a new building project you will know just how complex the issue of VAT and zero-rating can be. This article poses...

As an alternative to salary or dividends, benefits in kind are a potentially tax-efficient option for directors, especially those of multiple companies. But what’s the advantage and when can you use it? Brona MacDougall takes a closer look. Most tax experts will tell you that dividends are the most tax-efficient form of income for director...

Missing transactions on VAT Return ‘We’ve identified a small issue, but don’t worry we’ve got you covered. If you run your VAT Return up to the period ending March 2019, the transactions for 31 March 2019 are not appearing. To make sure your calculations are correct when submitting your VAT Return, you can download and...

With a new tax regime being introduced on company cars and a changing landscape between petrol, diesel and electric vehicles to consider, Alister Biggar looks at the implications for business users. A staggering 55% of new cars registered in the UK go to the fleet market, and even though the landscape is changing between diesel,...