Tax Tip
When you buy new equipment for your business, ask whether
it is energy or water efficient.
Check the list on www.eca.gov.uk to see if you could get
a 100% deduction fo the cost in the year of purchase.
On-line filing
Every year, employers are required to send details of the salaries, tax
and National Insurance deducted from their employees.
These year-end
returns have to be submitted by 19 May 2007 to avoid a fine.
These documents can be submitted on-line via the internet.
We can
assist
you in this process. If you are a small employer (less than 50 employees)
and you file on-line, HMRC will pay you £150 tax-free
if you
file on time for 2006/07.
Company Vans
There has been a big change to the taxable benefit due
on vans.
Where
an employer provides a van for an employee, which they can
use for private
journeys, the taxable benefit from 6 April 2007 becomes £3000
per annum.
This taxable benefit is not levied if the private
use is merely
incidental.
HMRC have given some guidance on what is incidental
but this
is not exhaustive so we will be pleased to advise on
the situation if
you are providing vans that can also be used for private
journeys.
