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Beware of the risks of engaging employees as sham contractors

Beware of the risks of engaging employees as sham contractors

Recently, a clear legal precedent confirmed that the nature of an individual's work is determined by the reality of the actual employment relationship rather than by arbitrary titles. Mr. Gooch worked for the British Free Range Egg Producers Association (BFREPA)...
When you don’t need to make payments on account

When you don’t need to make payments on account

If you file a Self-Assessment return you may need to pay your tax in three instalments, so it is useful to know when payments on account apply and when they can be reduced or removed. The first two payments on account are due by 31 January during the tax year and by...
Taxable benefits for use of company car

Taxable benefits for use of company car

The tax you pay on the use of a company car depends largely on its CO2 emissions, so choosing a lower emission or electric vehicle can make a significant difference to your overall tax cost. The benefits in kind (BIK) tax on company cars can be quite significant, with...
Business Asset Disposal Relief – the present rates

Business Asset Disposal Relief – the present rates

If you are thinking about selling a business or shares, it is important to understand how Business Asset Disposal Relief works, particularly with rates set to increase from April 2026. Business Asset Disposal Relief (BADR) provides a valuable tax advantage, offering a...
Paying Class 4 NICs

Paying Class 4 NICs

If you are self-employed and your profits are above £12,570, you may need to pay Class 4 National Insurance, so it is important to understand how the rates and rules apply to you. Self-employed individuals are usually required to pay Class 4 National Insurance...