Documents for Business
In excess of 1,000 customisable documents covering every conceivable business issue.Search all documents in Documents for Business
Key events chart
Key events chartIf you are subject to a personal tax enquiry, deposits on your bank account statements could be taken to be a second source of income by HMRC. Therefore, it's a good idea to keep an up-to-date record of these rather than relying on you... Read more
Employee expenses policy
Employee expenses policyResponsibility for determining whether business expenses reimbursed to employees and directors are exempt of tax and NI rests with the employer. To aid with this it's good practice to have an expenses policy in place. Evidence ... Read more
Changing interview notes
Changing interview notesIf you attend an enquiry with one or more HMRC officers they will make notes of the meeting and they will ask you to agree that they are a true and fair representation of what was said. The document can be used as evidence in ... Read more
Private expenditure record
Private expenditure recordDuring a full enquiry into your tax return, if you are self-employed you can expect the inspector to start asking questions about your private expenditure. The presumption is that any "missing" takings from the business will s... Read more
Checklist for challenging an HMRC business economics exercise
Checklist for challenging an HMRC business economics exerciseIf HMRC challenges your accounts based on it carrying out a business economics exercise, use our checklist to identify flaws in HMRC's assumptions and calculations. Missing incomeHMRC uses i... Read more
Pool car journey record
Pool car journey recordFor a company car to count as a pool car (meaning that employees who use it aren't taxed on it as a benefit) it must not be used for private journeys. HMRC may ask for evidence of this. You should maintain a log of all journeys ... Read more
Employee loan agreement
Employee loan agreementTo avoid a payment to an employee/director being treated (and taxed) as additional salary, you could reclassify it as a fixed-rate loan. What documentation will HMRC need to be convinced about this?Inexpensive financeThe income ... Read more
Staff suggestion scheme rules
Staff suggestion scheme rulesYou can reward your employees for ideas that contribute to your business tax and NI free. For the exemption to apply conditions must be met which should be set out in a special policy.Cash rewards for suggestionsLegislati... Read more
Salary sacrifice policy
Salary sacrifice policyIf you want to implement a salary sacrifice scheme in your company, make sure you insert the relevant policy in your staff handbook. Scheme particularsIncluding a Salary Sacrifice Policy in your staff handbook is important both... Read more
CGT negligible value claim
CGT negligible value claimIf you own an asset that has become of negligible value, i.e. worthless, you can make a negligible value claim which entitles you to treat the asset as if it were sold for nothing. The effect of this is to create a capital l... Read more
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