Using the Annual Investment Allowance
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The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant and machinery to be deducted
Scope of Trade
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There is no statutory definition of ‘trade’. The only statutory reference to the term is that ‘trade’ includes a ‘venture in the nature of trade’. This absence of a formal definition decides if an
Using Advisory Fuel rates
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The easiest way to ensure that no car-fuel benefit charge (for private journeys in a company car) is payable, is to use the advisory fuel rates published by HMRC to repay any private fuel costs to
Tax-free trivial benefits
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There is a benefit in kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees or any other BiK classed as
Duty free limits if you are travelling abroad
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Here is a reminder of any duty payable and tax-free allowances if travelling abroad this summer.
If you are travelling from outside the UK and arriving home in Great Britain (England, Wales and