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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...
Advantages of VAT Flat Rate Scheme

Advantages of VAT Flat Rate Scheme

If your business has relatively low VATable expenses, the VAT Flat Rate Scheme can simplify your VAT reporting and may also improve cash flow. The VAT Flat Rate Scheme is designed to simplify VAT accounting for small businesses. Instead of calculating VAT on each sale...
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)...