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Party time for small companies

  • December 10, 2019
  • Tax

Although there is no specific allowance for a Christmas party, or any other employer-provided social function, HMRC do allow limited tax relief against the cost of holding an ‘annual event’ for employees, providing certain conditions are met. Broadly, the cost…

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Dealing with finance costs correctly

  • December 8, 2019
  • Tax

The self-assessment deadline is looming. Self-assessment tax returns for the year to 5 April 2019 must be filed online by 31 January 2020 if a late filing penalty is to be avoided. Landlords will need to complete the property income…

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Empty Warehouse

Can you claim tax deductions for unused premises?

  • December 18, 2018
  • Tax

A tax inspector is disputing deductions for costs relating to unused business premises included in your latest accounts. Are you entitled to tax relief for these or does the inspector have a point? Your business's accommodation needs can change for…

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Pound Coins And The HM Revenue And Customs Logo

Self Assessment Penalties

  • September 28, 2016
  • Tax

Due to cash flow difficulties I have not yet paid my self-assessment payment on account, which was due on 31 July 2018. I realise that I will have to pay interest on the amount outstanding, but will I also have…

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