by VelocityAS | Mar 1, 2022 | Company Car, Employment, Finance, income, National Insurance, Tax, VAT
The Government is set to increase National Insurance Contributions (NICs) by 1.25% from April to fund the Health and Social Care Levy, and while this may be a laudable aim, it is going to hit all of us in the pocket. Costly increase when finances are being squeezed... 
by VelocityAS | Dec 1, 2021 | Accounting, Company Car, Tax
A tax charge may arise if an employee is able to use a company car or van for private use. A further charge will arise if you provide the fuel for any private use. The taxable amounts that will apply for 2022/23 have now been announced. Company cars Where an employee... 
by VelocityAS | May 7, 2021 | Accounting, Business, Company Car, Tax
If you are an employee with a company car, you will be taxed on the benefit derived from the car being available for your private use. If you are an employer who makes company cars available to your employees, they will be taxed on the associated benefit. The amount...