Orange Genie News

Offshore tax avoidance

On 16 March 2018, HMRC published new guidance on offences relating to tax avoidance on offshore income. These offences started to apply from 6th April 2017 onward. It is now a criminal offence if you:

We all have causes that are close to our hearts and giving to charity is something many of us want to do. It makes us feel good, makes our world a better place and it might even be good for our health. There are two ways you can give to charity and both can form part of your overall tax planning strategy. You can donate through your limited company and potentially pay less Corporation tax or donate personally and reduce your personal tax liability.

Work related training

Work related training can be an effective way to progress your contracting career. When we ask our clients what they like about contracting, the opportunity to learn new things is always one of the top answers so it’s not surprising that many ask about claiming for training costs. You are your company’s most valuable asset, so it makes sense to keep your skills sharp and current.

Almost every modern business incurs costs for communication, and your contracting business is likely no exception. It’s often difficult to work at all without a phone and an internet connection. So, when you’re claiming expenses, which of these can you claim for?

As with all business expenses, the guiding principle is that all expenses must be incurred wholly, exclusively and necessarily in the course of your business. If your business costs can’t be separated from personal costs then you can’t claim them.

What are benchmark scale rates?

The benchmark scale rates provide a simplified method of claiming expenses for a business trip, without the need to record every single expenditure or keep all your receipts.

These rates deal with what your limited company can pay you in tax free expenses and are not necessarily connected to what you bill the client.