Newsletters
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Summer party for staff: taxable or exempt?
A company is looking to hold a summer event for its staff. It's not sure what form this will take as yet, but the tax and NI position will be a factor due to the cost. What are the rules here?
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New green tax now in effect
Since 1 April 2022, there’s the new plastic packaging tax to consider. Which businesses are likely to be affected, and what do they need to do to comply with the new reporting requirements?
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Is it worth taking a salary from a new company?
An individual used their personal savings to fund a start-up. They expect it to take a year until it will be financially self-sufficient. They can’t see the point of taking a salary from the company until then, but might they be losing tax and other advantages?
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Abolition of basis periods - an opportunity for loss relief
The abolition of tax basis periods will result in many sole traders paying more tax sooner than under the current rules. But, for those who have made losses in recent years it might offer a chance for extended tax loss relief. How does it work?
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Taxpayer wins tribunal case involving “duality of purpose”
A taxpayer has successfully convinced the First-tier Tribunal that expenses that had both personal and business purposes could be partly deducted from their income. What was the full story and why is the decision important?
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Is a notional gain from exchange rate changes taxable?
The First-tier Tribunal has ruled on a case involving the sale of a holiday home in Switzerland. The dispute centred on how exchange rates affected the amount of gain taxable. Some important tax principles were covered in the ruling. What were they and how did they affect the outcome?
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