Documents for Business

In excess of 1,000 customisable documents covering every conceivable business issue.
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Termination payment letter

Termination payment letterYou need to take account of both the legal and tax issues when drafting documentation for dealing with a termination payment. But if you don't have any employment issues with the departing employee it's arguable that the payme... Read more
 
 

Year-end bonus board minute

Year-end bonus board minuteBonuses for employees or directors declared after the year-end may only be accrued in the balance sheet if there was a "legal or constructive obligation at the balance sheet date" to make such payments. All other bonuses decl... Read more
 
 

Enquiry - challenging a business economics exercise

Enquiry - challenging a business economics exercise There can be many reasons for challenging an HMRC business economics exercise, but you must have good grounds for doing so. Are your records deficient?HMRC's business economics exercise approach to i... Read more
 
 

Authority letter to HMRC

Authority letter to HMRCIf you want someone, for example your accountant or a friend, to communicate with HMRC on your behalf, you must put this in writing. If you don't, he won't be prepared to discuss your VAT or other tax affairs with anyone but you... Read more
 
 

Annual certificate of interest

Annual certificate of interestIf your company pays you interest for lending it money, it must deduct income tax first and provide you with a certificate to show this.certificateThe interest can be paid or credited to the director's loan account on a r... Read more
 
 

Directors' benefits in kind - board minutes and contract clause

Directors' benefits in kind - board minute and contract clauseWhere your company provides a director with benefits in kind, it's good practice for the arrangement to be recorded in a board minute and in the director's contract. remunertation packageThe... Read more
 
 

Staff suggestion scheme record

Staff suggestion scheme recordTax rules permit employers to pay employees a tax and NI-free sum for suggestions to improve the busines. Keep a separate record of such payments to help justify the tax and NI treatment should HMRC make enquiries.Log t... Read more
 
 

Termination payment minutes

Termination payment minutesYou can use company law formalities to support your case that a termination payment is not ordinary earnings and hence not taxable (up to a £30,000 limit). What's involved?Ex gratia minutesIf possible, agreement to make a t... Read more
 
 

Contract for services

Contract for servicesHMRC's aim is to reclassify freelancers such as consultants as employees and insist that PAYE and NI is due on the total amount paid to them. Having a realistic contract for services in place will provide evidence that the engagem... Read more
 
 

Memo: invoices for motor expenses

Memo: invoices for motor expensesHow expenses are controlled is always at the top of HMRC's list of questions during a compliance visit. Using our memo should help you to dismiss enquiries about motor expenses very quickly, before they become too deta... Read more
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