The 2020 Budget is still a few weeks away, but the NIC rates and thresholds have been announced, together with details for other payroll deductions. Employees will benefit from a primary class 1 threshold of £9,500, as promised in the Conservative party manifesto. Employers will start paying NIC sooner at £8,788 (so a small […]
From April, company car tax will be scrapped for electric car buyers, and experts are predicting increased demand for electric vehicles. The SMMT (Social Motor Manufacturers and Traders) reported that sales of electric vehicles doubled in the second half of last year following the announcement in July. In addition to which Alphabet the business lease […]
Tribunal unimpressed with HMRC bringing a case concerning input tax recovery on tax advisory costs nearly identical in facts to a case it lost three years ago. In the recent Taylor Pearson (Construction) Ltd case (TC07464), the company engaged two separate tax advisers to advise them on how to pay bonuses to three directors in […]
HM Revenue & Customs filed 4,308 winding up petitions in the year to September 2019, an increase of 6% from the previous year. HMRC uses these petitions to chase outstanding tax payments, which could result in the closure of the business, and the liquidation of assets. Once a winding up order has been made by […]
