A £50 gift to yourself and your staff! If you are a Limited company, then you can give yourself a gift at Christmas as the company is giving the gift and not you! You can also give gifts to your employees. The limit is £50 and counts as a trivial
The rules dictating when the trading profits of unincorporated businesses are subject to income tax are changing. From April 2024, the existing basis period rules known as the ‘current year basis’, will be abolished and replaced with a tax year basis of assessment. Under the tax year basis, businesses will
Today, the financial landscape for businesses and taxpayers in the UK received a significant update with the Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, unveiling the Autumn Statement. Packed with measures aimed at bolstering economic growth, supporting enterprises, and enhancing the employment scenario, this statement also heralds
These reforms are designed to enhance transparency and to make tracking and investigating financial crimes simpler. However, it is worth noting that their administrative implications will have the most impact on small businesses. The Companies House reforms include the following: * The introduction of identity verification for all new and existing
As an employee or a director working from home, you are allowed to reclaim reasonable ‘work from home’ expenses from your company. Flat rate basis HMRC allows you to reclaim a flat rate per month, depending on the number of hours a month you would typically work from home. Well