HMRC clarifies capital allowances rules for partnerships

[ad_1] HMRC has updated its guidance to make it clear that a partnership which includes a corporate member may claim capital allowances generally restricted to companies. These include the super deduction and full expensing. A partnership’s profits are calculated in accordance with the tax rules applying to its members, as follows:  where the partners are […]

Car allowances and NIC | ICAEW

[ad_1] HMRC updates its approach on the national insurance contributions (NIC) disregard for relevant motoring expenditure following Upper Tribunal decision. HMRC has published articles in Employer Bulletin and Agent Update following the Upper Tribunal decision in Laing O’Rourke and Wilmott Dixon.  The crux of that decision is that where an employer pays a fixed sum […]