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Can you claim input tax without a VAT invoice?
VATOne of our clientss cannot provide a tax invoice to HMRC to support an input tax claim on the purchase of machinery three years ago. What alternative evidence should be acceptable to the officer?
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Can flipping properties create unwelcome tax bill?
Personal TaxYou’re planning to purchase a cheap property, refurbish it and eventually sell it on for a hefty profit. You’ve been told that as long as you live in the property, the gain is tax free, is this correct?
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Employee home-to-work travel costs during rail strike
Business Tax, Personal TaxTo keep the impact of the recent London Underground strikes on your business to a minimum it offered to reimburse employees for the costs of travelling to work via other means. Does this create a taxable benefit in kind?
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Frequent changes of company car
Business Tax, Personal TaxIf your employees enjoy multiple changes of company car during the year, could averaging the car benefit calculation save tax? If so, what’s involved and how can they avoid an unexpected tax bill?
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Changes to registration threshold?
VATIt’s rumoured that the Chancellor will raise the VAT registration threshold from £90,000 to £120,000 to stimulate economic growth. But other reports suggest it could be cut to £30,000 to raise revenue. What would these changes mean for your business?
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Mortgage interest: don’t miss out on unused relief!
Personal TaxYou own a buy-to-let property and need to report your profits for 2024/25. You have a mortgage, but your calculations show that the tax reducer will exceed the rental profit. Will the excess go to waste?