OTHER
Pitfall with cars – No 1 – pooled cars (not pedalos!)
It is very difficult to make a company car a pool car and thereby avoid the benefit in kind provisions. To be exempt from such charges the car; Must actually be used by more...
Charging your children rent?
With effect from 6 April 2016 the tax free amount of rental income you can receive from renting out a room or rooms in your home increases from £4,250 to £7,500 per annum. If...
Annual investment allowance and private use
When an asset is used partly for non-business use the capital allowances that can be claimed have to be reduced to reflect this. If you are only entitled to writing down...
Diesel cars
Understanding the Benefit in Kind Supplement for Company Diesel Cars The benefit in kind (BIK) supplement for company diesel cars is an important consideration for businesses...
Forced heirship rules
New rules were introduced by the European Commission on 17 August which allow individuals in EU states to choose whether their foreign assets are governed by local succession...
Gross interest and the savings nil rate band
Since 6 April 2016, the way savings income is taxed in the UK has changed. With the introduction of the savings nil rate band, most taxpayers no longer need to have tax...
Short-life asset elections
With the annual investment allowance (AIA) reducing to £200,000 with effect from 1 January 2016 it might be worth considering ‘de-pooling’ elections for expenditure in excess...
Child benefit
As you may be aware if the taxable income of either of the partners to a civil relationship or marriage falls between £50,000 and £60,000 the child benefit is clawed back at...
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