Tax FAQ
Each year our Advice Line experts field thousands of calls from
you with requests for authoritative guidance and up to date
information about how the ever-changing laws and regulations of
both the UK and European Union are impacting on your business. As
you might expect, some issues come up time and again - here are
some of the most frequently asked.
I use my own car for business and do about 12,000 miles per year visiting customers. My employer only pays 20p per mile which I do not believe covers my full cost. Can I recover any of my additional costs from HMR&C?
I have forgotten to complete my tax return and will therefore submit it to HM Revenue & Customs late. My return shows a tax liability of £50. Will I have to pay any penalties for late submission?
I run a restaurant where customers pay tips to members of staff. What is the tax position with regard to these?
I am going to pay a new employee for the first time. What tax code should I use on the first payment?
I have a builder carrying out work on our site who says he is self employed. Can I take his word for it and not deduct tax?
Do I have to register for VAT and, if so, when do I have to register?
I have had a call from Customs about carrying out an inspection. Why are they coming and what will they do when they are here?
My drivers use the company vans for a certain amount of personal mileage. Is this classed as a benefit with tax implications for my employees?
My business is a haulage contractor and we own eight lorries. Seven of the lorries are driven by our own staff. One is driven by a self-employed individual who does driving at other times for other hauliers.
I own a business which I intend selling in the near future. It is a property rental business where residential properties are rented to private individuals. What rate of CGT will I be liable to and can I get Entrepreneurs Relief on the gain?
Please read legal information.