Archive | Accountancy

Boy Racers, Yachts and zero income tax

The first thing a Formula One driver would do when he/she started to earn some serious money would be to leave the UK. Can you blame them? If you had an annual salary of over £10m, on which you were taxed 45% by the Inland Revenue, and had an estimated worth of £88m, you would […]

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Ensure it’s a Merry Christmas

With the festive season approaching, it is worth reminding employers that HMRC has a few presents to give out, since staff Christmas parties can be tax-free under rules which allow businesses to spend an annual tax-free amount of up to £150 (including VAT) per staff member on entertainment. The rules apply to any annual party […]

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How many taxes are there in the UK?

In an attempt to answer this question I decided to do some research. I found blogs and forums of people discussing similar questions. The reality is; maybe it’s easier to list things that aren’t taxed. Think about your normal working day; you wake up (paying council tax), you drive to work (paying car tax, road […]

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