Day to day accountancy 3/3

Dec 25, 20192 min read

VAT capital goods scheme

The VAT capital goods scheme affects input tax recovery in relation to high value capital assets by partially exempt traders and...

Dec 25, 20192 min read

Claim a deduction for work clothing

Many employees are required to wear a uniform for work. Even where there is no set uniform as such, many employees have clothes that they...

Dec 25, 20192 min read

Rewarding staff suggestions in a tax-free manner

Many organisations operate a staff suggestion scheme and reward employees where a suggestion is adopted which will benefit the...

Dec 25, 20192 min read

Tax-free mileage allowances

Employees often use their own cars for work, usually claiming expenses in the form of a mileage allowance to cover the costs. While it is...

Dec 25, 20192 min read

Beware tax scams

HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they...

Dec 25, 20192 min read

A quick overview of capital gains tax

Capital gains tax is payable on net gains to the extent that they exceed the annual exempt amount. Capital gains tax is a tax on the...

Dec 25, 20193 min read

Corporation tax and trading losses

Relief may be available where you operate your business through a company and you make a loss. The loss may be set against total profits...

Dec 25, 20192 min read

Making money from your spare room

Under the rent-a-room scheme, it is possible to earn tax-free income from letting out a furnished room in your own home to a lodger. You...