The exemption for parking provision and expenses under section 237 ITEPA 2003 exempts the provision, reimbursement, and payment of parking at or near the employee’s workplace.If an employer were to provide, reimburse or pay for parking facilities and then recover this from the employee’s gross earnings under a salary sacrifice arrangement, the exemption no longer applies, and the provision becomes taxable.

A clear and fair shareholder agreement can help prevent unnecessary disputes from arising. At its simplest, a shareholder agreement governs the rights, obligations, and responsibilities of the shareholders in a company. The content of the agreement can and should vary, depending on the needs and goals of the shareholders, and the nature of the company itself.

Private limited companies, whether they trade or not, must file annual accounts with Companies House each year, including dormant companies. A penalty is automatically imposed if the accounts are late. Penalties range from £150 to £1,500 depending on how late accounts are filed.

The Let Property Campaign gives you an opportunity to bring your tax affairs up to date if you’re an individual landlord letting out residential property in the UK or abroad and to get the best possible terms to pay the tax you owe.

It is not uncommon for car dealers to tell buyers that their businesses can recover the VAT on the purchase of an electric car. This is not the case; the block on input recovery on internal combustion cars applies equally to electric and hybrid cars.

You must be a first-time buyer to put the Lifetime ISA towards your first home. A first-time buyer is someone who does not own, and has never owned, a home anywhere in the UK or the rest of the world.To be able to be eligible for the government bonus, you must have opened a Lifetime ISA at least 12 months ago.

Government support includes the enterprise investment scheme (EIS) and its sibling, the seed enterprise investment scheme (SEIS) – venture capital schemes designed to encourage, by means of attractive tax reliefs, shareholding investment in growing companies. According to the EIS Association, nearly £30 billion has been invested in more than 53,000 companies since the schemes were created in 1994 and 2012 respectively.

Deduction is allowed from earnings for an expense if the employee is obliged to incur and pay it as a holder of the employment, and the amount is incurred wholly, exclusively and necessarily in the performance of the duties of the employment. It should be noted that the general rule does not apply to travel expenses, which have their own set of rules.

In a family company scenario, it can be tax-efficient to make salary and dividend payments to family members to utilise their unused allowances and lower-rate tax bands. However, when it comes to paying dividends, there are potential tax traps to avoid.

Your property is a dwelling if all or part of it is used, or could be used, as a residence, for example a house or flat. It includes any gardens, grounds, and buildings within them. Some properties are not classed as dwellings. These include hotels, guest houses, boarding school accommodation, hospitals, student halls of residence, military accommodation, care homes and prisons.