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Incidental overnight expenses – A little known tax break - Bookkeeping Services Manchester | Go Figure Financial
Expenses incurred by an employee on behalf of a company can only be reimbursed under the 'wholly, exclusively and necessarily' rules for...
Apr 17, 20242 min read
HMRC's use of artificial intelligence –How AI is assessing the risk of tax evasion by businesses
We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and...
Feb 1, 20243 min read
Working for an umbrella company –Be aware of the risks - Bookkeeping Services Manchester | Go Figure Financial
Recruitment agencies often use umbrella companies to pay temporary workers. HMRC confirms that there is no statutory definition of an...
Feb 1, 20243 min read
Pre-trading expenses –Be aware of the rules - Bookkeeping Services Manchester | Go Figure Financial
People set up in business for a variety of reasons. For some it is a dream that becomes a reality some years later. In working towards...
Feb 1, 20243 min read
NMW from April 2024 – Make sure you comply - Bookkeeping Services Manchester | Go Figure Financial
Employers must pay their workers at least the statutory minimum wage for their age. Depending on the age of the worker, they may be...
Feb 1, 20242 min read
Register to payroll benefits in kind - Bookkeeping Services Manchester | Go Figure Financial
Employers can opt to deal with taxable benefits in kind through the payroll (known as ‘payrolling’) rather than reporting them to HMRC...
Feb 1, 20242 min read
Relevant motoring expenditure and NIC – Are you due a refund? - Bookkeeping Services Manchester | Go Figure Financial
For tax purposes, where an employee uses their own car for work, mileage allowances can be paid tax-free up to the approved amount, which...
Feb 1, 20243 min read
Repairs and improvements – What is the difference and why does it matter?
Work may be undertaken on a property to repair it or to improve it, and it will not always be clear where the dividing line falls. The...
Feb 1, 20243 min read
The VAT domestic reverse charge: what your construction business needs to know - Bookkeeping Services Manchester | Go Figure Financial
The VAT domestic reverse charge came into operation in March 2021, introducing significant changes around how VAT is collected and paid...
Jan 26, 20242 min read
Can mileage claims include loan interest?
The Approved Mileage Allowance Payment (AMAP) was introduced in 2002 as a statutory simplification to allow employers to make tax-free...
Jan 22, 20243 min read
Is it time to disincorporate?
On 26 October 2023 one of the most significant pieces of company legislation came into being. The main thrust of the Economic Crime and...
Jan 22, 20243 min read
PAYE settlement agreements –What are they and how do you set one up?
The usual method of declaring employees’ benefits in kind and taxable expenses is via the annual P11D form submission. Employers can also...
Jan 15, 20243 min read
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