Archive for December, 2023
‘Tis the Season for Trivial Benefits
As the holiday season approaches, employers may be considering making gifts to employees and/or having parties. Trivial Benefits A gift that meets the trivial benefits conditions can boost morale and has tax advantages for both the employer and employee as qualifying gifts do not suffer income tax or national insurance and the cost is tax […]
Pool Vehicles – what are they for tax purposes?
A pool vehicle is a business-owned car or van that is available for use by one or more employees. A pool vehicle must meet the following conditions to be exempt from being categorised as a benefit in kind: The vehicle is made available to, and is used by, more than one employee and evidence of […]
Capital Gains Tax relating to Divorce – Changes from 6 April 2023
General Rule For capital gains tax (CGT) purposes, transfers between spouses and civil partners who are “living together” take place at no gain/no loss, so that no CGT liability arises and the recipient of the gift inherits the base cost of the person making the gift. Therefore, any gain or loss from the transfer is […]
I am a director of a UK company living overseas – how am I being taxed?
The world is a small place and it is important to have flexibility to choose where to live and for employers to access skills and talent wherever in the world they are sourced. This could involve living overseas whilst working for a UK company and returning to the UK for visits. To determine the tax […]
Further appointments support Kilsby Williams’ growth
Newport-based tax and accountancy specialist Kilsby Williams has made further appointments to its tax and business services teams as the firm continues its expansion. Ashley Wareham, a Chartered Certified Accountant and Chartered Tax Advisor, has joined the firm’s tax team as a manager. Ashley brings with him a wealth of experience in tax services for […]