HMRC has recently announced an increase in its official rate of interest with effect from 6 April 2023. How does this affect any directors or employees with interest-free loans from the
company?
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Making sure your payroll software is updated before the first pay-run of the new tax year is important. If you also use HMRC’s Basic PAYE Tools, it’s important to make sure this is updated too. How
do you do this?
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An employee is on long-term sick and no longer eligible for statutory sick pay. They’ve asked if they can take some of their rolled over holiday during their sick leave and receive holiday pay - do
you have to allow this?
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You funded the cost of training for an employee on condition that they stayed in their role for at least two years. They left after nine months, so can you deduct the training costs from their final
pay?
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The temporary tax charge on overdrawn directors’ loan accounts will increase from April 2022. How can you avoid paying this by keeping tabs on the position?
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Your company is the UK subsidiary of an Australian parent company. A leading researcher has been seconded to the UK from the parent, and you are providing accommodation for her. What are the tax
implications?
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You made an enterprise investment scheme request in 2019/20, but due to a protracted examination of the company trading activities you have only just received the certificate. You can’t amend your
tax return, so how do you secure relief?
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Your business makes both taxable and exempt supplies. You have always used the standard apportionment method to reclaim some residual input tax. But how can you work out if you are underclaiming as a
result?
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Individuals who are tax resident in the UK are generally taxed on their worldwide income and gains. However, if you are non-domiciled you can take advantage of a special remittance basis. How can you
elect for this treatment?
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If you let part of your home, rent-a-room relief might automatically exempt the rent from tax. This sounds good but it might not be tax efficient. When might the relief not work to your advantage and
what steps can you take to counter this?
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