Blog

If you run a company and you employ professional lorry drivers, then your business might have particular tax concerns. The tax system in the UK is complex and can be daunting to navigate but it’s important that you get it right, as there are serious penalties for getting things wrong. Also, the first thing a business owner should remember is that costs incurred exclusively for the business purpose can be reimbursed. On other hand any benefits offered to employees are taxed in the same way as their income. If you’re not sure how to pay your drivers from a tax perspective, we’re here to help!

For many years trusts have been considered the standard way to pass family wealth on to future generations. The last few years however have seen tax changes which mean that Family Investment Companies (FICs) may be the more tax-efficient option…

You want to give someone a gift, let’s say its for their birthday. After considering what to get them you grab your electronic device of choice, and log in to your favourite online retailer, like “amazon.com”. After making your selection you pop in the recipient’s address and pay for your gift. Usually, within 24 hours it’s delivered to the intended recipient and you get a little notification to say it has arrived.

If you are a sole trader or partnership (but not a limited company) you have a choice to use so-called “simplified expenses” or calculate your expenses for vehicles, working from home and living on your business premises by working out the actual costs.