‘Tis the Season for Trivial Benefits

Trivial Benefits A gift that meets the trivial benefits conditions can boost morale and has tax advantages for both the employer and employee as qualifying gifts do not suffer income tax or national insurance and the cost is tax deductible for the employer. To be exempt from income tax and national insurance, the gift must […]

Pool Vehicles – what are they for tax purposes?

A pool vehicle must meet the following conditions to be exempt from being categorised as a benefit in kind: All five requirements must be satisfied. *Examples where HMRC deem private use as ‘merely incidental’ to business use when: HMRC consider that less than 5% of the vehicle’s annual mileage should be undertaken for private use. It […]

Capital Gains Tax relating to Divorce – Changes from 6 April 2023

Rules prior to 6 April 2023 Prior to 6 April 2023, the no gain/no loss treatment applied only until the end of the tax year in which a married couple/civil partners permanently separated. For instance, if a couple separated in January 2023, they had until 5 April 2023 to transfer assets in order to benefit […]

I am a director of a UK company living overseas – how am I being taxed?

To determine the tax treatment, you should first consider where an individual is resident for tax purposes.  Time spent in the UK should be recorded to include the reason for the visit and the number of days spent here.  Even if someone is non-UK tax resident, there could be a liability to UK tax and […]

Further appointments support Kilsby Williams’ growth

Ashley Wareham, a Chartered Certified Accountant and Chartered Tax Advisor, has joined the firm’s tax team as a manager. Ashley brings with him a wealth of experience in tax services for owner managed businesses and VAT advisory work. In his new role, he will oversee a portfolio of personal and corporate tax clients. Ashley said: […]