Taxation of company vans in 2023/24
Taxation of company vans in 2023/24 A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is also provided for private journeys, a separate fuel benefit tax charge arises. The van and fuel... Making Tax Digital
From 6 April 2024, MTD for income tax self-assessment (MTD for ITSA) will require unincorporated businesses, self-employed people and landlords (with turnover over £10,000) to: keep income and expense records digitally; make quarterly reports of income and expenses to...
Distributions on cessation of a company
When a company closes down, it may have accumulated monies or assets that need to be distributed to shareholders. If the asset is in the form of cash then any distributions would typically be as dividends (or possibly additional contributions to a pension scheme). A...
Do I need to top up my pension?
A full single tier state pension is payable to people who have 35 qualifying years. Individuals who have less than 35 qualifying years, but at least 10 qualifying years are entitled to a reduced state pension.A person builds up qualifying years by paying sufficient...