Christmas treats!

Christmas brings the exciting prospect of gifts and parties. Many employers wish to ‘treat’ staff at this time of year, and if they can do it in a tax-efficient way, so much the better! Let’s get the party started! The Christmas ‘do’ is a popular event in many...
Taking money from your company – tax-free!

Taking money from your company – tax-free!

Tax-free profit extraction It becomes quite interesting (to put it mildly) to consider ways of taking money out, not just tax-efficiently, but even tax-free. What follows is a selection of some of the most effective tax-free profit extraction techniques. Share capital...
Employee – Self-Assessment, Expenses you can claim

Employee – Self-Assessment, Expenses you can claim

1.    Mileage. If the mileage allowance that your employer pays you is less than the HMRC rate, you are able to claim the balance. The first 10,000 business miles, according to HMRC, can be claimed at a rate of 45p per mile. Over 10,000 miles the allowable HMRC rate...
Christmas & Annual Staff Parties

Christmas & Annual Staff Parties

A staff party or an annual function qualifies as a tax-free benefit for your employees. The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150 is a limit and not an...