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KRW Q & A

06 October 2014

What are the tax implications of company private medical insurance

on Monday, 06 October 2014.

Company owners often ask me about the tax implications if their company takes out private medical insurance for them or if they would be better to pay for it personally.

This month's Q&A explores how benefits in kind are taxed and sets out my advice on why business owners will often be better to pay such costs personally.

28 May 2014

Can i reclaim any VAT on my business mileage?

on Wednesday, 28 May 2014.

It is often more tax efficient to keep your car outside of the business and to instead make a claim for your business mileage. But can the business reclaim any VAT on the mileage payments?

This month's Q&A looks at how VAT can be reclaimed on the fuel element of the 45p/25p per mile, how to calculate it, and what paperwork you need to keep

08 May 2014

Can i claim back VAT on entertaining costs?

on Thursday, 08 May 2014.

The question of whether VAT can be reclaimed on business entertainment comes up regularly and often crops up during a VAT inspection.

This month's Q&A looks at the rules relating to reclaiming input VAT on entertainment costs and sets out the situations where VAT can be reclaimed.

27 February 2014

Is free fuel for company car drivers ever a good idea?

on Thursday, 27 February 2014.

This question has come up more than once recently from clients providing company cars to employees – what are the tax implications if they also provide 'free' fuel?

In this month's Q&A we take a look at the Company Car Fuel Benefit and demonstrate that providing free fuel is almost always best avoided for both employee and employer.

27 November 2013

The £2,000 employment allowance is coming in 2014. How does it work?

on Wednesday, 27 November 2013.

The £2,000 employment allowance was a surprise announcement in the 2013 Budget and arrives in April 2014, giving all employers £2,000 off their annual Employers' NIC bill.

In this month's Q&A we take a look at how the employment allowance works, who can claim it and whether those on a low 'optimum' salary can benefit.

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Contact KRW

KRW Accountants
The Mill, Pury Hill Business Park
Alderton Road, Towcester
Northants, NN12 7LS

emailmail@krwaccountants.co.uk

phone01327 810373

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