In this Winter edition of the PayLessTax newsletter, we look at the following issues:
- Time is of the essence – With the tax year end fast approaching you may want to consider carrying out some actions prior to 6th April 2024. We set out some suggestions for CGT, Income Tax and Inheritance Tax.
- Pension – Take Home Pay Anomaly
- HMRC Court Defeat: Car Allowance Payments and National Insurance relief – HMRC’s historical position has been that car allowance payments are classed as earnings and therefore the whole amount should be liable to NI. The courts have just ruled that this is not the case and, where an individual does business mileage, NI relief should be given against part or all of the car allowance.
- Status Refunds Or Offsets? – A look at recent developments in relation to settlements made under an HMRC IR35 enquiry.
If you have any questions or need personalised advice on these topics, don’t hesitate to get in touch with our team. We’re here to help you make the most of your business opportunities.