What can HMRC ask you about your workers?

Your business might have an unblemished tax record, but HMRC's interest doesn't necessarily end there. These days it’s just as likely to ask questions about your workers. How should you respond? Special forces In 2009 and 2010 HMRC succeeded in persuading the government to beef up the powers it has for carrying out investigations. These didn’t just enhance the existing... [FIND OUT MORE »]

SMALL BUSINESS EVENT – Wed 6th May – About the speakers

Interested in finding out more about the speakers at our FREE SMALL BUSINESS EVENT on Wednesday 6th May? Diane is a Senior Account Manager with Xero & President of ‘Scottish Women in Business’. This is what Diane says about herself – “My role at Xero allows me to do what I love, and what I do best - meeting people; getting to know... [FIND OUT MORE »]

Entertaining – don’t miss out on tax deductions

Whether you’re planning a summer ball or a more modest event to promote your business, the Taxman’s guidance says you can’t claim a deduction for the cost. But is this always correct? No deduction You probably know that HMRC has a special rule regarding the cost of business entertaining, i.e. it isn't tax deductible. Whether it’s a casual drink at... [FIND OUT MORE »]

Can you “sack” a self-employed worker?

Like many companies, the BBC often hires people who are self-employed. However, in its recent dealings with Jeremy Clarkson - who falls into this category - it gave the impression they can be sacked. Is that true? Top Gear fracas Jeremy Clarkson - whose name is synonymous with controversy - was in the spotlight for much of March 2015. The... [FIND OUT MORE »]

Employers – don’t forget the new NI exemption

The end is NI! If you have employees aged under 21, when you pay them on or after 6 April 2015 you won’t be liable to employers’ NI unless their wages exceed the upper secondary threshold (UST). The UST is a new NI band that’s currently set at the same level as the upper earnings threshold, but HMRC says that... [FIND OUT MORE »]

Payments that reduce company car tax

Employees who contribute to the cost of using their company car for personal journeys get a reduced tax charge. This can be calculated in two ways. As the employer which one offers you the greatest advantage? Company car contributions As you know, cars provided to employees for work purposes which are also available for private journeys count as a taxable... [FIND OUT MORE »]

Payment Discounts – All change for prompt payers?

HMRC has issued guidance on how businesses should deal with prompt payment discounts from 1 April 2015. What are the key factors? What’s new? Following the withdrawal of the prompt payment discount (PPD) concession in the 2014 Budget, HMRC has issued guidance on how businesses should account for VAT under the new accounting rules. Suppliers should issue a VAT invoice recording... [FIND OUT MORE »]