Newsletters
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What's the tax status of a second job?
A freelancer's business is struggling but he’s found a second job with another firm. The trouble is his employment status will mean his pay is liable to PAYE tax and NI. Can he divert the income to his company to prevent this?
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Is tax payable on compensation for damaged property?
Last year a trader's premises suffered extensive structural damage. The insurer compensated him before the repairs were made. If he doesn’t use all the money will he have to pay tax on it?
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Can HMRC demand security for future tax payments?
A business has been struggling with cash flow and has had issues paying their PAYE liabilities on time. Reeling from the effects of the coronavirus pandemic, HMRC is now demanding a security payment. What does this mean for the business?
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Pay increases - avoiding the OpRA rules
In 2017 HMRC clamped down on the use of salary sacrifice (optional remuneration) arrangements which offer perks instead of salary as a way of reducing tax and NI. Is it still possible to obtain tax and NI savings using similar arrangements?
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Class 2 NI: problems with deferred tax payments
Some state benefits need an up to date NI record. This might pose a problem for anyone who has deferred their self-assessment tax bill. How might this affect self-employed persons?
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Is annual accounting for VAT worth considering?
VAT annual accounting isn’t for everyone. There are conditions for joining and, depending on the business, it might not offer any advantage. In what circumstances is it worthwhile considering?
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