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Tag: corporate tax

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Tax Implications of Providing a Van to an Employee

Understanding Benefits in Kind (BIK) Benefits in kind (BIK) refer to goods and services provided to employees (or their family members) either for free or at a significantly reduced cost. The nature of these benefits and how they are provided can influence the tax and National Insurance Contributions (NICs) to be paid and the reporting

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Tax implications of different methods of business finance

For many businesses, initial setup costs are low for just an internet connection, smartphone, and laptop. Invariably, funding for expansion or the purchase of specific items will come from the owner’s resources or those of family or friends. If an individual makes a gift either to a business owner or to the business itself, it

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