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A Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows a company with debt problems or that is insolvent to reach a voluntary agreement to pay its business creditors over a fixed period of time. The arrangement is
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There is a trivial benefit-in-kind (BiK) exemption that applies to small, non-cash gifts (such as a bottle of wine or a bouquet of flowers) that are occasionally given to employees. This exemption enables employers to offer modest, tax-efficient
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If your business imports goods into the UK, it is important to be familiar with the Customs Declaration Service and to ensure that any duty payments are made correctly and on time to avoid delays, interest or penalties. The Customs Declaration
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Where cryptoasset tokens (also known as cryptocurrency) are held personally, this investment is usually undertaken in the hope of making a capital appreciation in its value or to make particular purchases. HMRC is clear that these holdings will
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A recent ruling has established that temporary worker arrangements do not constitute a single, continuous employment relationship in which workers retain the unfettered right to refuse assignments. This effectively confirms the prerequisite for a
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Taking on the role of a company director is more than holding a title. Directors have legal duties that shape how a company is run, how decisions are made and how risks are managed. These responsibilities exist to protect the business, its
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Many businesses arrange insurance in the early days and then only look at it again when something changes, or when a renewal comes around. The difficulty with this approach is that risks evolve over time, and gaps in cover often only become visible
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If you file a Self-Assessment return you may need to pay your tax in three instalments, so it is useful to know when payments on account apply and when they can be reduced or removed. The first two payments on account are due by 31 January during
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If your business has relatively low VATable expenses, the VAT Flat Rate Scheme can simplify your VAT reporting and may also improve cash flow. The VAT Flat Rate Scheme is designed to simplify VAT accounting for small businesses. Instead of
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The tax you pay on the use of a company car depends largely on its CO2 emissions, so choosing a lower emission or electric vehicle can make a significant difference to your overall tax cost. The benefits in kind (BIK) tax on company cars can be