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| WISHING YOU A Merry Christmas!
Our office will close at 12.30pm on 24th December and re-open at 8.45am on 2nd January.
Instead of sending Christmas cards this year we are donating to two charities, which will be selected by our staff.
If you would like a bespoke tax planning meeting, in the New Year, please contact us now.
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_______________ KEY INSIGHTS FOR YOU THIS CHRISTMAS
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TAX FREE Christmas gifts.
Certain gifts to staff at Christmas are tax free if structured correctly.
Employers are allowed to provide their directors and employees with certain “trivial” benefits in kind tax free.
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PAYING EMPLOYEES Before Xmas.
As in earlier years, HMRC has announced that they have relaxed the RTI (Real Time Information) reporting obligations.
But remember...
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CHRISTMAS Staff parties.
There continues to be no taxable benefit for employees provided that all staff are invited, and the cost to the employer does not exceed £150 a head, inclusive of VAT.
But remember...
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BRING FORWARD Succession planning.
Arrange a tax planning meeting in the New Year. There is lots to look at following the Autumn Budget, including avoiding a big IHT bill through succession planning.
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We are supporting The Charles Thompson Mission Food & Toy Appeal. If you would like to donate new toys or non-perishable food, then please drop off at our office by 17th December.
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| Double cab pick-ups (DCPUs) will generally be treated as ‘cars’ for capital allowance, lease disallowance and employment benefit purposes from April 2025.
This will reduce capital allowances and increase benefits in kind.
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6 Abbots Quay, Monks Ferry, Birkenhead, Wirral CH41 5LH. To unsubscribe from all communications, please click here. |
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