personal taxatation Archives - Page 39 of 47 - Whitefield Tax - Isle of Wight Accountants

Benefits in kind of loans to directors and employees

by Jessica Garbett | Jun 4, 2015 | ACCA, business taxation, employer returns, personal taxatation

How do I calculate the benefit arising on a director or employee loan? What are the exemptions? Calculation Normal method is to take the average for the year: Take the average of the loan outstanding at 5 April at beginning of the year and 5 April at the end of the...

Residential Let Property and Furnished Holiday Lets – an update

by Julie Barrett | May 20, 2015 | business taxation, personal taxatation, property taxation

Residential let property The rules on claiming some expenses against rental income changed in 2013/14. Prior to that, whilst the initial costs of things like furniture, white goods, carpets etc was never allowable, you could claim for the replacement of such items....

Is the tax you have paid correct?

by Jessica Garbett | May 15, 2015 | personal taxatation, Tax Help for Old People

How do you know? If you pay your tax under Pay As You Earn (PAYE) your involvement with HMRC will probably be minimal. Your employer makes sure that HMRC are aware of your earnings, operates your tax code, takes tax from you and informs HMRC of your income and the tax...

Company cars – benefit in kind

by Jessica Garbett | May 12, 2015 | personal taxatation

Company car benefits can throw up a number of anomalies and confusion amongst employees. We consider the current benefits calculation that employers need to consider. When employees are provided with company cars and fuel that are available for private use, they are...

Lunch for the Self Employed

by Jessica Garbett | May 6, 2015 | business issues, HMRC, personal taxatation, yoga

Travel expenses for employees – including – company directors – get a lot of press. But what about the self employed – sole traders and business partners? Quite often HMRC tackle self employed travel expenses, the latest being the Samadian...

Class 2 NIC collection

by Jessica Garbett | Apr 13, 2015 | ACCA, personal taxatation

From the 2015-16 tax year onwards the collection of Class 2 NICs will be through self-assessment (SA), allowing the self-employed to pay their income tax and Class 2 and Class 4 NICs together through one process. From 6 April 2015 the self-employed will report their...

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Benefits in kind of loans to directors and employees

Residential Let Property and Furnished Holiday Lets – an update

Is the tax you have paid correct?

Company cars – benefit in kind

Lunch for the Self Employed

Class 2 NIC collection

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