Thompson Elphhick News
Company car expenses and benefits – what’s exempt?
While company cars often come with tax implications, there are specific situations where the associated benefits may be exempt. There are circumstances where it can be possible to offer employees car
Did you file your tax return over the festive period?
HMRC’s figures show thousands of taxpayers are filing over the festive period, but leaving your return until late January risks penalties, stress and avoidable payment problems. A new press release
Changes to Agricultural and Business Property Relief reforms
The government recently announced significant changes to the planned reforms to Agricultural Property Relief (APR) and Business Property Relief (BPR). The threshold for 100% relief will be increased
New First Year Allowance from 1 January 2026
The new 40% First Year Allowance (FYA) for qualifying main-rate plant and machinery expenditure first announced at Autumn Budget 2025 has now come into force. Effective from 1 January 2026, the new
Suing whistleblowers for a breach of confidence is not a viable strategy
The Court of Appeal has ruled that the initiation of legal or arbitral proceedings by an employer against a ‘whistleblower’ who has made a protected disclosure constitutes an actionable detriment
Saving to pay tax
For many individuals and business owners, paying tax is one of the largest regular financial commitments they face. Yet tax bills often arrive as a shock, not because the amounts are unexpected, but
Learning from mistakes in business
Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates
HMRC’s Time to Pay service
With the 31 January deadline approaching, thousands of taxpayers are using HMRC’s Time to Pay service to spread the cost of their self-assessment tax bill rather than facing immediate payment
Avoiding the car fuel benefit charge
Employees with company cars may be paying unnecessary tax on private fuel, when reimbursing the cost of private fuel in full can often remove the car fuel benefit charge altogether. Where an employee
Nominating a property as your home
Owning more than one home can create valuable Capital Gains Tax planning opportunities, but only if you understand how and when to nominate a property for Private Residence Relief. Typically, you do
VAT Annual Accounting – filing your return
For eligible businesses, the VAT Annual Accounting Scheme can reduce paperwork, smooth cash flow and replace quarterly returns with a single annual submission. The VAT Annual Accounting Scheme is
Payroll annual reporting obligations
As we move into the start of 2026, it is not that long until the current 2025-26 tax year comes to an end and there are a number of payroll annual reporting obligations that must be completed. This











