Quick Tip 2
From April 2013, cars with CO2 emissions over 130g/km will only qualify for 8% capital allowances. Choosing manuals over automatics could lead to significant tax savings.
27
02, 2013
27
02, 2013
Quick tip
For 2013/14, add 134 to any 'L' tax code. A salary of £641 and dividends of £2,531 per month can be paid to a director/shareholder tax-free.
26
02, 2013
What should you do with an ageing Company Car?
Company Cars are taxed according to their original list price when new, and the CO2 emissions level. This means if yours is getting a bit long in the tooth it might not be tax efficient. It is possible that transferring the car ownership out of the Company and into your own name could solve this. [...]
23
02, 2013
Triple rating woes?
So Moody's has decided to downgrade the UK from its top AAA rating to an Aa1. Since the announcement the papers and online news sites have been full of nothing else. But is it something we need to be that concerned about, or is it just a political issue? Certainly before the credit crunch most people [...]
21
02, 2013
Save money on mileage
How accrurately do your employees record their mileage, and how often do you check it? Several companies offer GPS logging devices that are put in a car to capture journey information. PEAK Mileage Capture, for example, is a USB dongle with built-in GPS which is inserted into the car's USB socket or cigarette lighter. It [...]
15
02, 2013
1
02, 2013
VAT campaign launched by HMRC
HMRC is cracking down on those who are late with VAT Returns or payments. If you are struggling with a return or to pay your VAT get in touch with Forbes Watson and we can help you take the right steps. HMRC is giving everybody till the end of February to bring things up to [...]
1
02, 2013
Simpler income tax system for small businesses
HMRC has published draft legislation which includes the transitional rules for the cash basis and simplified expenses rules for small businesses. The cash basis From the 2013/14 tax year, self employed individuals or partnerships carrying on a small trading business will be able to choose to be taxed on the cash basis rather then being [...]