by Pi Accountancy | Sep 15, 2021 | COVID-19, Director, HMRC, Job Support Scheme, PAYE, Payroll, Taxes
The recent ‘pingdemic’ has resulted in large numbers of employees self-isolating. Where an employee meets the qualifying conditions, you must pay them SSP while they are self-isolating. As qualifying periods of self-isolation count as a Coronavirus-absence, if you are...
by Pi Accountancy | May 26, 2021 | Business, Company Car, HMRC
Taxation of company cars What is taxation of company cars? If you are an employee with a company car, you will be taxed on the benefit derived from the car being available for your private use. If you are an employer who makes company cars available to your employees,...
by Pi Accountancy | May 22, 2021 | Business, HMRC, PAYE, Self-Assessment, Taxes, VAT
Business records if you’re self-employed You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax....
by Pi Accountancy | May 21, 2021 | Business, Director, HMRC, Taxes
If you run your business as a personal or family company, you will need to decide how best to extract profits for your personal use. A typical tax-efficient strategy is to pay yourself a small salary and then extract any further profits as dividends. Where this...
