New HMRC advisory fuel rates from 1 March 2022

HMRC have published COMPANY CAR ADVISORY FUEL RATES FOR USE FROM 1 MARCH 2022. The rates apply when employers reimburse employees for the cost of fuel for business travel in their company cars or require employees to repay the cost of fuel used for private travel. HMRC review rates quarterly on 1 March, 1 June, […]

Statutory Residence Test

Written by Tax Partner, Michaela Lamb When HMRC announced that it would introduce a Statutory Residence Test, there was a collective sigh of relief from the tax profession; at last, some certainty! At least, that is what we hoped would be achieved.   The Statutory Residence Test has in the main delivered this, however, Residency […]

Tax benefits of business-owned electric cars

Written by Tax Partner, Michaela Lamb As more and more people choose to buy electric cars over petrol and diesel, employers should be aware of the tax benefits that both they and their people can achieve by using electric vehicles. Helpfully, HMRC are keen on helping taxpayers reduce their “carbon tyre-print” and have in place a […]

Video: Restricted Stock Unit (RSU) – FAQs answered

Written by Tax Partner, Michaela Lamb Meet Tax Partner and resident RSU guru, Michaela Lamb.   Over the last few years, our tax team have been advising more and more clients on RSUs. In this short video, Michaela shares the answers to those FAQs she gets asked on a daily basis:   I’ve been told […]

Charities and trading subsidiary companies

For charities, setting up a trading subsidiary company can prove to be a very tax efficient way of raising funds.  We explore below how this works, when it can be used and how to overcome the pitfalls that might arise.   How does it work? Non-primary purpose trading of a charity can be operated through […]

Reverse charge on construction services: Frequently asked questions

These FAQs supplement our article on Reverse Charge for Domestic Construction Services that we previously published on our website. That article explains the basic rules and is not superseded by this list of FAQs. 1. How does the reverse charge work? If you supply services within the reverse charge, you do not add VAT to your […]

Reverse charge for domestic construction services

Written by Tax Consultant, Ian MacGillivray As from 1st March 2021, those involved in construction services in the UK will, if their services fall within the relevant criteria, have to operate the reverse charge (RC). They will have to decide whether the procedure applies. If it does, its effect is to shift the responsibility to […]

Tax Exemptions for religious leaders

This article was first written for and published on AccountingWEB. To mark World Religion Day, we explore the tax exemptions for individuals who receive income for their duties as a religious leader, which is normally taxed as employment income. Both the tax legislation and HMRC manuals use either the term ‘minister’ or ‘clergyman’. Both often […]