You don’t have to pay tax on a benefit (gift) to your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t a reward for their work or performance it isn’t in the terms of their contract Gifts that fall into […]

At the time this article was written (mid-November 2019) there was no specific financial support being offered to victims of recent flooding in the UK apart from the farming sector. See comment below. The government announced 13 November that it will extend its Farming Recovery Fund to support farmers badly affected by the recent flooding […]

A reminder that in just a few months the present tax year closes, 5 April 2020. After this date, a whole raft of 2019-20 tax planning options for individuals will cease to be available. These cover a multitude of opportunities to reduce your liability to Income Tax, Capital Gains Tax and National Insurance. These opportunities […]

Good news for suitable businesses looking for funding. The RDPE Growth Programme, Round Three, opened on Monday 4 November 2019. Creation of the RDPE Growth Programme National Reserve Fund has enabled this opportunity, for which expressions of interest are invited. The three themes available are Food Processing, rural Business Development and rural Tourism Infrastructure. Businesses […]

Full fibre broadband comes to the Fylde Coast soon, as Blackpool will be one of the first UK towns and cities to get full fibre gigabit broadband1. It’s as a result of a multi-million pound investment that will deliver the fastest, most resilient broadband internet connection on the market.  A co-operative group from the private […]

It is fine to keep working past your State Retirement Age unless your employment is subject to retirement at a compulsory retirement age. If your employer does this, they must give a good reason, for example: the job requires certain physical abilities (e.g. in the construction industry) or the job has an age limit set […]

When you make a gift to third parties you are potentially transferring part of your estate and a life-time charge to IHT may be applied. However, in most cases you will not need to open your cheque book as there are a number of exemptions that may cover your intended gifts. The current gift exemptions […]

As a general rule, if you sell shares for more than you paid for them, any profit you make will be chargeable to Capital Gains Tax (CGT). Shares and investments you may need to pay tax on include: shares that are not in an ISA or PEP units in a unit trust certain bonds (not […]

This article does not cover the risks of owning an electric car, depreciation rates etc. Instead it discusses the tax implications if you buy an electric car for business purposes. As electric cars have zero carbon emissions for tax purposes it should be possible to claim what is called a “first year allowance” when the […]