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A reminder of trivial benefit rules

22nd November 2021 Posted by - Alexander Accountancy

We wanted to remind readers of the trivial benefits in kind (BiK) rules. The BiK exemption applies to small non-cash benefits like a bottle of wine, a

Vehicles eligible for a plug-in grant

15th November 2021 Posted by - Alexander Accountancy

The low-emission vehicles plug-in grant can help you save up to £2,500 on the purchase price of new low-emission vehicles. The scheme was first

What can be transferred between group members?

16th November 2021 Posted by - Alexander Accountancy

Corporation Tax relief may be available when a company or organisation makes a trading loss. Companies that are eligible for group relief can transfer

Reporting COVID support scheme grants to HMRC

17th November 2021 Posted by - Alexander Accountancy

Most COVID support scheme grants are treated as taxable income in the same way as other taxable receipts and need to be reported to HMRC. The grants

VAT reverse charge and the flat rate scheme

10th November 2021 Posted by - Alexander Accountancy

There are special VAT rules for building contractors and sub-contractors that came into effect on 1 March 2021. The new rules make the supply of most

Vehicle benefit charges from April 2022

12th November 2021 Posted by - Alexander Accountancy

The vehicle benefit charges were updated following the Chancellor's Budget speech. Where employees are provided with fuel for their own private use by

Self-employed basis period reforms

8th November 2021 Posted by - Alexander Accountancy

The government announced back in September that the introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) has been delayed by

More time to pay Capital Gains Tax

7th November 2021 Posted by - Alexander Accountancy

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed with effect from 6 April 2020. This

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