News from your Accountants in Harrogate & Leeds

Keep yourself up-to-date on the latest accountancy news and information with our useful articles.

Employees - same rules for all

January 18th 2017

The same rules now apply to tax expenses and benefits regardless of how much the employee earns and whether he or she is a director. The old £8,500 threshold was abolished from 6 April 2016. Since that date, employees who were previously P9D employees are taxed on any benefits in kind they receive in the same way as for P11D employees. This means that benefits such as company cars and private medical insurance are now taxable if the employee earns less than £8,500.

Get your affairs in order

January 18th 2017

HMRC are currently running a number of campaigns to encourage taxpayers who have undeclared income to come forward and bring their tax affairs up to date in return for lower penalties. In particular, campaigns are available in respect of let property, second incomes and credit card sales. If you have income from any of these sources which you need to tell HMRC about, please talk to your adviser as to how you can get the best possible deal under the available campaigns.

Car fuel advisory rates from 1 December 2016

January 13th 2017

From 1 December 2016, the advisory fuel rates have changed to:

Three months to go

January 13th 2017

All UK taxpayers may benefit from pausing, taking a deep breath, and considering their planning options as we approach the run-up to yet another tax year end.

Is your employer still paying for your private fuel?

January 10th 2017

It is worth repeating an article we first published March 2016 that highlighted the cash benefit to company car drivers and their employers, of reimbursing the cost of fuel provided for private motoring. The rates have been updated for 2016-17.

Capital Gains Tax (CGT) planning 2016-17

January 10th 2017

This is also an appropriate time of the year to consider your CGT position if you have already disposed of (or are considering a disposal) of an asset subject to CGT during 2016-17.

Double Merger for DSC Chartered Accountants

January 6th 2017

We are delighted to announce two exciting developments at DSC, each of which will support our plans to expand the business and strengthen our presence regionally.

Planning the Christmas celebrations

December 9th 2016

If you are involved in planning the staff Christmas party for your firm don’t forget to consider the Income Tax and VAT consequences. Here’s a short reminder of the points you should add to your check list.