A taxable benefit arises where an employee has the private use of a company car. Unless the car is an electric car, a further benefit arises if the employer meets the cost of fuel for private travel. Car benefit charge The amount that is charged to tax depends...
The ‘tax gap’ is a phrase that has been around for almost twenty years and refers to the difference between HMRC’s expected tax revenue and the total tax received from all taxpayers. Notably, it is an estimated figure compiled on an annual basis...
Partnerships exist in either ordinary format or as limited liability partnerships (LLP). An ordinary partnership is legally defined by the Partnership Act 1890 and is commonly chosen to set up a business to be owned by two or more sole traders. The partners share all...
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