Accountants West Kensington

A Tax efficient way to Reimburse Expenses incurred on Meals-

Posted by on April 5, 2013 at 10:56 am

If you employ staff who are on the move on a regular basis, you could reimburse them the cost of their meals while they’re out and about. But you have another option, where you could pay them a tax and NI-free allowance in exchange for them taking a little less in pay. This will be […]

An in-depth Analysis of Advisory Fuel Rates for VAT

Posted by on October 12, 2012 at 10:42 am

There had been many changes recently to the rules affecting income tax and VAT where you pay for fuel. This is mainly related to fuel used by your employees for private journeys. What are these changes and how might they affect your business? If it is a practice of your business to provide directors or […]

Business Record Checks on Hold

Posted by on August 31, 2012 at 10:23 am

HMRC has suspended the programme of business record checks. But the bad news is there will be more targeted checks on specific businesses. Early last year HMRC announced that a special task force would be visiting businesses at random to check the standard of their record keeping. Originally, HMRC intended to make 50,000 visits; this […]