This Bulletin is aimed at company car drivers (and their employers) who are not provided with fuel for private mileage HM Revenue and Customs (HMRC) have changed their advisory fuel rates for company cars with effect from 1 September 2019. The rates are intended to give guidance to employers about what is an acceptable fuel allowance to reimburse employees for use of fuel, without creating a tax or...
Tax-free annual party
If you are starting to look forward to the forthcoming end-of-year and Christmas celebrations, and we could all do with a bit of festive cheer, you may find the following article useful: it sets out the rules and regulations that qualify such events for a tax-free status: no benefits in kind, tax or NIC consequences. The cost of an annual staff...
Changes to contractor VAT from 1 October 2019
We have alerted building contractors and sub-contractors in previous newsletters of changes to the VAT rules from 1 October 2019. In a nut-shell, if you are subject to the Construction Industry Scheme and if you are registered for VAT, from the 1 October 2019 you may need to change the way you account for VAT on supplies between sub-contractors and their...
Why you may need an EORI number
The end of next month, 31 October 2019, is the latest deadline for our exit from the EU and the recent hiatus seems to be pushing the UK ever closer to a no-deal outcome. Accordingly, if you are involved in buying or selling goods to EU countries, you should apply now for an Economic Operator Registration and Identification (EORI) number. Without an...
Autumn Budget 2019
If there was a measure of stability in UK politics, we would be expecting the usual dispatch-box presentation by the Chancellor before Christmas. The annual budget is usually presented November each year. This may still happen this year, but present uncertainties regarding the Brexit outcome, and the present government’s slim majority may scupper that timetable – we may have two budgets...
Are you making the most of Trivial Benefits
Earlier this year we highlighted the tax concession afforded by the so-called Trivial Benefit rules. We said: It is possible to make small tax-free payments to employees, including directors… Employers and employees don’t have to pay tax on such a benefit if all of the following apply: it cost you £50 or less to provide, it isn’t cash or a cash voucher, it isn’t a reward...
Direct marketing director punished
If your company engages in direct marketing, you may want to consider the following case published by the Insolvency Service: A property renovation boss who caused his company to make more than 110,000 unsolicited marketing calls has been banned for five years. From its incorporation in August 2015, the company relied heavily on direct marketing techniques – cold-calling members of the...
How fit is your business
In much the same way that we make judgements about our personal fitness: are we overweight, do we get enough exercise, do we eat the right food; similar judgements can be made about your business. There is also a raft of external pressures that we have to consider as individuals. For example, if you are about to run a marathon your...
The 1972 Brussels Act has been repealed
If you doubted the resolve of our government regarding the implementation of the 2016 referendum the following announcement may clarify matters. The Government has signed into law legislation to repeal the Act of Parliament which set in stone Britain’s EU (EEC) membership in 1972. The 1972 Act is the vehicle that sees regulations flow into UK law directly from the EU’s...
Driving and staying in the EU after 31 October 2019
If, as our new government intends, we leave the EU after 31 October 2019, with or without a deal, what changes will drivers and travellers from the UK be likely to face when they cross the channel after this date? Bus and coach drivers According to the latest updates on the Gov.uk website bus and coach drivers will need to consider the...