Company Car Issues

Mileage Allowance Payments

Ray Stewart Business, Tax Matters Leave a Comment

After a discussion I had with new client on Friday afternoon, it seems there is still a huge amount of confusion about what and how much an employee/business owner can be re-imbursed for using their private vehicle for work. It is true that if you use your private vehicle in your business, you can claim 40p/mile for the first 10,000 miles in a tax year and then 25p/mile over that level completely tax and NI free. This is fairly straight forward and hasn’t changed for a while. Just remember to keep mileage records in your diary or similar to back up your claim.

Tax Saving Tip – No. 3

Ray Stewart General, Tax Matters Leave a Comment

This is the third tax saving tip article in the series and this tip deals with working from home and what household expenses you can rightfully claim against business profits. Any business person that works even partially at home in the evenings/weekends can properly claim an allowance against their business for “Use of home as office”.  The questions arise when …

Tax Saving Tip – No.1

Ray Stewart General, Tax Matters Leave a Comment

Welcome to the first in a series of posts detailing tax saving tips. This first post is about using, or losing, your annual capital gains tax allowance.  Presently standing at £9,200 the annual cgt allowance is one of those that you will lose if don’t fully utilize it each year. Yes, even in these difficult recessionary times, there are people …