Pro-Taxman

Finance & Accounting>Employee Expenses

Using your own car in your property business

A landlord running an incorporated business is likely to need to use their own car for the purposes of the business. Where this is the case, what can they claim by way of expenses? Two options Costs incurred wholly and exclusively for business purposes can be deducted when working out the profits of a property …

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Getting ready for off-payroll working

Over the past ten years, various steps have been taken to improve the effectiveness of the off-payroll (IR35) rules, with limited success.  In April 2017 the Government reformed the way in which the rules operate in the public sector by shifting responsibility for determining employment status from an individual contractor to the organisation engaging them. …

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Employees, can you claim tax relief for expenses of working from home?

The Covid-19 pandemic has meant that more employees worked from home than ever before. This trend looks set to continue following the Government’s latest advice to continue to work from home where you can do so. Further, many business plan to embrace flexible working beyond the end of the pandemic, allowing employees to work from …

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Employment allowance – Have you claimed it?

The National Insurance employment allowance enables eligible employers to reduce the amount of employer’s National Insurance that they pay over to HMRC. The allowance, which is set at £4,000 for 2020/21, is available to most employers whose Class 1 National Insurance liability was less than £100,000 in 2019/20, with some notable exceptions, including companies where …

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Homeworking equipment and returning to the office

Before the Government U-turn, many employees had started to return to office-based jobs. Where the employee had previously worked from home and had been provided with homeworking equipment, there may be tax implications to consider if the employee is allowed to keep the equipment for personal use. The tax implications will depend on the way …

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Preparing for 2021 changes: Customs grants available

In June 2020, the Government announced that it was making funding available to customs intermediaries and businesses to help increase their capacity to make customs declarations. Broadly, businesses need to prepare ahead of new procedures coming into play in 2021 following the end of the UK’s EU withdrawal transition period. As well as injecting a …

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Kickstart Scheme

In the July Economic Statement, as part of his Plan for Jobs, Chancellor Rishi Sunak announced that a new Kickstart Scheme would shortly be launched with the aim of creating hundreds of quality jobs for young people aged between 16 and 24 years old. The details of the scheme have been slow coming, but it …

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Personal Protective Equipment

Tax implications of providing PPE to employees

The Covid-19 pandemic has seen many employees being required to wear personal protective equipment (PPE) at work. The way in which this is provided and the extent that it is needed to enable the employee to undertake the duties of their employment will determine the associated tax implications. HMRC have published guidance on the treatment …

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Loans to Employee

As a business owner you can loan your employees up to £10,000 – but what are the tax implications? Find out more below.

Hardship loans to employees To help employees out during the Covid-19 pandemic, employers may provide ‘hardship’ loans to employees. Where loans are provided, what are the tax implications? No special rules There are no special relaxations to deal with loans provided to help employees meet financial obligations during the Covid-19 pandemic; the usual rules for …

As a business owner you can loan your employees up to £10,000 – but what are the tax implications? Find out more below. Read More »