More recent posts
-
New company car fuel rates
HMRC has published new ‘advisory fuel rates’ (AFR) for company cars, which apply to journeys from 1 December 2016. To give employers time to change their systems, for…
-
Phishing and scams
In recent times there seems to have been an increase in taxpayers receiving emails/texts supposedly sent to them from HM Revenue and Customs (HMRC). One example is bogus…
-
HMRC withholding tax relief on ‘in specie’ pension contributions
HMRC are reportedly withholding millions of pounds of tax relief from pension savers who have made ‘in specie’ pension contributions; the contribution of non-cash assets to a pension…
-
Magma’s 5th Birthday!
As an ambitious and forward looking business, we’re pleased to announce the start of our 6th year. We’ve had a very brief look back to share some of…
-
Autumn Statement 2016
Philip Hammond has delivered his first, and last, Autumn Statement, which included revised forecasts for the UK economy, new Government commitments on deficit and debt reduction, spending commitments…
-
The proposed changes to corporation tax loss relief
Under current legislation, corporation tax losses carried forward can only be used by the company that incurred the loss, and some losses carried forward can only be set…
-
Reduce the cost of providing Employee Benefits in Kind
Did you know you could save time and money by automating the requirement of completing P11ds for your employees? The employees tax on expenses and benefits can form…
-
Owner Managed Business Debate – an Exit before Brexit?
With the countdown to the UK’s Brexit negotiations well under way, a slowdown in the UK business Merger & Acquisition (M&A) activity was widely forecast. Recently released figures…
-
Millions of married couples failing to claim transferable tax allowance
Latest figures from HMRC show that millions of married couples are yet to claim the Government’s transferable tax allowance; the marriage allowance. The marriage allowance was introduced from…