Company cars have long been considered a luxury perk and status symbol of successful businesspeople.  If you run your own company, you have the freedom to choose whether or not to buy yourself (and maybe some staff) a company car.  Your choice will not only affect your company’s tax and VAT but will also impact the car user’s personal tax.  This blog cover key issues around tax on company cars.

This is how tax on company cars may affect you:  … Continue Reading

While the term “entertainment” might bring to mind top-price seats to sporting events funded by generous expense accounts, almost everyone in business spends money on entertainment.  It might be as routine as coffee with a client or the annual staff Christmas party.

The general rule for entertainment costs is that they are usually not tax deductible, except in some restricted circumstances.  The rules for companies, sole traders and partnerships are broadly the same…. Continue Reading

There might not be any such thing as a free lunch, but in some circumstances, at least it is a tax deductible. As with most areas of tax, the treatment of meals is heavily dependent on the precise nature and circumstance of expense incurred.

Let’s consider the tax position on the question we are often asked – Is lunch tax deductible?… Continue Reading

 

In last week’s blog, we turned our attention to IR35 legislation: what it is and how it works.  As promised, this week we are taking a closer look at the application and calculation of IR35.

This is a technical area and may require you to read this post more than once to grasp the issues.

IR35 legislation applies in the following circumstances:- … Continue Reading

“IR35” might sound like an innocuous term, but the tax law it describes is anything but. All limited companies and partnerships that provide services to their clients ought to be aware of the basics of what IR35 entails, as the tax consequences of ignoring this legislation could be very costly…. Continue Reading