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Many employees see being allowed the use of their own company car as acknowledgement of their status in a company. While the employee will be taxed on the benefit, the tax charge is usually not as high as having to finance the car out of their own savings or taking out a loan. However, should the employer also offer to pay for all fuel (usually via use of a company fuel card), including for personal use, the employee could face a sizeable tax (and NIC) charge. Many company

Many digital platforms and online marketplaces in the UK, such as eBay, typically consider a seller to be a trader if they list items frequently or in bulk, or if the individual is perceived as selling items with the intent to generate profit. Being classified as a trader leads to additional fees not applied to private sellers. In addition, if 30 or more sales transactions are completed or total sales exceed approximately £1,707 after fees, eBay and other similar platforms ar

In the not-too-distant past, incorporation was synonymous with automatic tax savings. However, successive governments have eroded these tax benefits. With additional administration and costs, many directors are considering disincorporation. As ever, there are tax implications for both the company and individual. Asset transfer Whatever the reason for disincorporation, when a company with assets closes, HMRC generally treats the company as disposing of those assets to the dire