HMRC surprised all taxpayers who own a double cab pickup as a company vehicle on 12 February by announcing that these vehicles would be classified as cars and not vans, which would have led to higher National Insurance Contributions (NICs) for owners.
A dispute between Coca-Cola and HM Revenue & Customs (HMRC) has closed the loophole that previously defined double-cab pickups as vans and now means they will be classed as cars. Historically, a double-cab pickup with a payload of one tonne (1,000kg) or more was accepted as a van for benefits purposes, allowing businesses to enjoy […]
When it comes to making investments, property can be a great option. With the prospect of large returns, under the right circumstances, properties can be a great way of increasing your monthly income.
With the Self-Assessment deadline passing on 31 January, it’s clear that many sole traders and business owners aren’t using allowable expenses and deductions to their full potential.
The UK economy is built on SMEs and innovative entrepreneurs. In 2022/23, over 800,000 new businesses were registered nationwide, an increase of 6.4 per cent on the previous period. SMEs are significant contributors to wider economic health and their continued existence and growth can be evidence of a thriving, innovative society.
Managing payroll effectively is crucial, especially when it involves apprenticeship wages. Employers must adhere to government regulations to avoid potential fines, penalties and disputes.