The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process… Continue reading Forms P11D – reporting employee benefits
Big benefits are coming from 6th April 2020 for company car drivers choosing a pure electric vehicle – there will be NO benefit in kind and so NO income tax on the car or fuel to pay in 2020/21 ! This is as a result of the changes to company car tax rates announced for… Continue reading Time to switch to an Electric Company Car ?
It's not important whether the vehicle is a van. What's important is that it's not a car. For VAT purposes it will be a car if: It is of a kind normally used on public roads, has three or more wheels and either: is constructed or adapted for carrying passengers; or has roofed and windowed… Continue reading When is a van not a van?
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 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
If you are looking to buy a car through your VAT registered business then there are several things to consider; it can be a great tax saving idea however you must consider all of the implications. The most important point is that the VAT on the purchase of the vehicle can only be claimed back… Continue reading VAT on Company Vehicles