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There are a number of changes that apply from the start of the 2020/21 tax year that relate to the taxation of company cars and vans. New way of measuring CO2 emissions The way in which the level of a car’s CO2 emissions is determined changes from 6 April 2020. The CO2 emissions figure for

Making tax-free payment to employees  for working from home As a result of the Coronavirus (COVID-19) pandemic, many workers have been forced to work from home. While working from home saves the costs of commuting to the workplace and perhaps allows workers to adopt a more relaxed dress code, there are also costs associated with

Claiming the National Insurance employment allowance for 2020/21 The National Insurance employment allowance is available to eligible employers and can be set against the employer’s secondary Class 1 National Insurance liability. In the 2020 Budget, the Chancellor announced that the allowance would be increased to £4,000 for 2020/21. However, from 6 April 2020, it is

A popular tax-efficient profit extraction strategy used by personal and family companies is to take a small salary and extract further profits as dividends. Where this approach is adopted, the starting point is to determine the optimal salary. While this will depend on personal circumstances and there is no excuse for not doing the sums,