Yesterday saw a budget that focused, as expected, on housing and a stormy economic forecast. Our full summary is available on our website, but the key tax developments are summarised below. Personal Tax Rates and Allowances The personal allowance is currently £11,500 and will increase to £11,850 in April 2018. The higher rate threshold similarly… Continue reading Autumn Budget 2017
We all know that there are a few things we need to consider before buying a new car. These are some common questions which are asked by clients (hopefully before they go ahead and make that major purchase): “Should I purchase a car through my business or should I use my own car for business… Continue reading New Vehicle Tax Rates April 2017
You’ll pay tax if you or your family use a company car privately, including for commuting. You pay tax on the value to you of the company car, which depends on things like how much it would cost to buy and the type of fuel it uses. This value of the car is reduced if: you… Continue reading How to tell HMRC about your company car.
You would think that it was easy to identify a commercial vehicle, such as a HGV or a transit van and in most cases it is. However vehicle companies are now manufacturing vehicles that have a dual purpose. These vehicles are car derived vans which are sold as lifestyle vehicles that can also be used… Continue reading VAT on Commercial Vehicles