Entries by Karen Best

Advisory fuel rates – changes

Please note that HMRC have announced that it has changed the Advisory Fuel rates once again (this is the third change in this tax year so far). The rates below* apply from 1 September 2015. You can use the previous rates for up to 1 month from the date the new rates apply.   Engine […]

Key staff promotions at Clay Shaw Thomas

We are pleased to announce some key staff promotions at Clay Shaw Thomas! James Burnett has been promoted to Director having qualified as a Chartered and Certified Accountant with the firm.   Pictured L-R: Sara Lathwood, Lauren Hooper, Gemma Jones, James Burnett, Laura Steele   James has been a key member of the management team […]

July 2015 Budget Preview

George Osborne will deliver the second Budget of 2015 on Wednesday, July 8th, just two months – almost to the day – after the Conservatives secured an outright majority in the General Election. With all the pundits predicting a hung parliament, the Conservatives secured an overall majority of 12; not huge but – in the […]

Non-UK resident property owner?

The new non-UK resident tax on the sale of UK properties came into force on 6 April.  The tax is only to be applied to the growth in value of a UK property from 6 April 2015 to the date of the sale of that property but we are recommending that non-resident, UK property owners […]

Changes to Advisory Fuel Rates (AFRs)

It is important to note that the AFR rates reduced from 1 March 2015 and must be applied in businesses by 1 April 2015. When can you use the AFRs? The rates apply when you either: • Reimburse employees for business travel in their company cars; or • Require employees to repay the cost of […]

Budget 2015: What was announced and how could it affect you?

The Chancellor of the Exchequer delivered his Budget 2015 statement to Parliament yesterday. This was the last Budget statement before May’s General Election and one of the last major scheduled chances for George Osborne and his party to reflect on our current economic status and look forward to forthcoming policies. To help explain the impact […]

Holiday pay changes

Historically, holiday pay has been calculated on ‘normal basic pay’ and that’s made sense when the 40 hour week was the ‘norm’. However, in the new world where people are on zero hour contracts, part time contracts with extra hours regularly worked, flexible hours etc it seems sensible for people’s holiday pay to be calculated […]

Christmas Party

With the festive season fast approaching, it should be remembered that employers can provide employees with a tax free Christmas party. The rules apply to any party or similar function, which must be open to staff generally or to workers at a particular location. The tax-free limit applies for a tax year, so an employer […]

HMRC brings in record £131m from tax status checks

Tax inspectors have been coming down hard on the construction industry and it’s paid off for them! Extra payments from builders, plumbers and electricians after tax status checks by HM Revenue and Customs saw the figure rise to £131m in the year to March 2014. This is an increase of 7% from the £121m they […]