Charging electric cars at home
HMRC have recently clarified their view of the tax treatment for the reimbursement of electricity costs where employees charge their electric company cars at home. HMRC now accepts that reimbursing part of a domestic energy bill, which is used to charge a company car or van, is exempt from income tax. Their previous view was that […]
2024 Budget – 6 March 2024
The Chancellor of the Exchequer, Jeremy Hunt, has announced a Budget on 6 March 2024. There will obviously be at least one eye on the forthcoming general election, and there may be tax changes afoot to try to win votes. As usual, there will be lots of speculation in the media over the coming weeks […]
The benefits of building an internal search engine using AI
AI can help businesses become more efficient by simplifying searches. As businesses big and small grapple with ever larger sets of data, they have begun to utilise artificial intelligence (AI) tools to sift through and make sense of the information they have on file. Employees often have a large number of data sources they […]
Are you claiming VAT at the appropriate rate on expenses?
Many software packages have a “default VAT rate” which can be set for each expense code. This can speed up the processing of invoices and payments considerably. If the default rate is 20%, any payment coded to that account will extract VAT – e.g. post £120 and £100 will be the expense and £20 will be […]
Tackling the gender pay gap
A multifaceted approach is needed in order to close the gender pay gap. The gender pay gap has been declining slowly over time and in the last decade it has fallen considerably. However, there is more work to be done, to ensure that employees are paid equally for doing the same work, regardless of their […]
Cash flow is essential – make it easy for customers to pay
Cash flow is vital for business success and most people are aware of the phrase – Cash is King. Your business both wants and needs to be paid promptly for work you have done, services or goods provided. There are several steps you can take to improve cash flow in the business. Do not offer […]
DUA Tax newsletter – February 2024
Welcome to the February edition of our Tax newsletter. We hope that you find this informative. Please contact us if you wish to discuss any issues in more detail. YEAR END TAX PLANNING It’s not too late to undertake some end of year tax planning. If you have some spare cash, an obvious tax […]
Financial Engineering
Financial engineering is the use of mathematical techniques to solve financial problems. Financial engineering involves the application of quantitative techniques and engineering principles to create innovative financial solutions. The objective is to address the intricate challenges of financial markets, providing a sophisticated framework for risk management, investment strategies, and the development of new financial instruments. […]
How generative AI is already changing how we work
AI is already impacting business, employees and the wider economy. The advent of generative artificial intelligence (AI) has ushered in a new era of efficiency and innovation, fundamentally altering the landscape of how we work. This powerful technology, exemplified by offerings such as Chat GPT, has already begun to revolutionise various industries, reshaping workflows, decision-making […]
Customers want experiences
Online business models are great, but there is a reason why Ikea and Lego are opening physical stores. Traditionally, businesses focused on developing high-quality products to meet customer needs and expectations. However, the modern consumer is not merely seeking a transactional exchange – they crave a holistic experience that goes beyond the tangible features of […]