Maximising your business tax deductions: post-festive season financial strategies
The festive season often brings a flurry of expenses, end-of-year tasks, and forward planning for business owners. Once the celebrations are over, it’s the ideal time to refocus on your finances and take proactive steps to free up valuable resources for reinvestment, business growth, and tax efficiency. Optimising your tax deductions is one of the […]
Updates on tipping law changes for the UK hospitality industry
A significant change in tipping practices came into effect on 1 October 2024 with the Employment (Allocation of Tips) Act 2023. This new legislation requires all service-based businesses, including restaurants, cafes, pubs, and hotels, to ensure that 100% of tips and service charges go directly to the employees who earned them. Previously, employers had no […]
Update: HMRC issues revised guidance on taxation for double cab pickups
It was announced on Monday 12 February 2024, that HMRC had updated its guidance on the tax treatment of double cab pickups (DPUCs) following a Court of Appeal judgment in 2020. Initial guidance indicated that these vehicles would be treated as cars rather than goods vehicles for tax purposes starting from 1 July 2024. What […]
