Specialist Tax News

28 June 2023

Can we still be paid £6 a week for working from home?

During the COVID pandemic the government relaxed the conditions to enable those working from home to be paid £6 a week tax free by their employer,

28 June 2023

HMRC challenging a marketed school fees plan

HMRC frequently warn taxpayers that when a tax avoidance scheme looks “too good to be true”, it probably is. They publish “Spotlights” on their website to

28 June 2023

Diary of main tax events July/ August 2023

Date What’s Due 01/07 Corporation tax payment for year to 30/9/22 (unless quarterly instalments apply). 05/07 Last date for agreeing PAYE settlement agreements for 2022/23 employee

30 May 2023

2022/23 employment-related securities returns due by 6 July

The deadline for reporting shares and securities and share options issued to employees during 2022/23 is 6 July 2023. This is the same as the deadline

30 May 2023

HMRC official rate of interest only 2.25%

HMRC have announced that the official rate of interest will increase from 2% to 2.25% on 6 April 2023. The official rate of interest is used

30 May 2023

Should director/shareholders take advantage of this lower rate?

The HMRC rate of interest on beneficial loans looks very attractive compared to the Bank of England Base rate of 4.5% and much higher rates charged

30 May 2023

Should employees reimburse their employer for private fuel?

The table below sets out the HMRC advisory fuel rates that apply from 1 June 2023. These are published quarterly these days due to the volatility

30 May 2023

Advisory fuel rate for company cars

The table below sets out the HMRC advisory fuel rates from 1 June 2023. These are the suggested reimbursement rates for employees' private mileage using their

30 May 2023

Use of HMRC advisory rates for VAT purposes

Where employers reimburse their employees for using their own cars for business journeys the tax – free reimbursement rate continues to be 45p for the first

30 May 2023

Diary of main tax events June/July 2023

Date What’s Due 01/06 Corporation tax payment for year to 31/8/22 (unless quarterly instalments apply) 19/06 PAYE & NIC deductions, and CIS return and tax, for

02 May 2023

2022/23 P11D forms to be submitted online

The deadline for filing the P11d forms to report benefits in kind in respect of directors and employees for 2022/23 is 6 July 2023. Note, however,

02 May 2023

PAYE settlement agreements also online

Where benefits in kind are provided to employees that will usually result an income tax charge on the employee and a Class 1A national insurance (NI)