Online Selling – What is my Corporate Social Responsibility?
Online Selling What is my Corporate Social Responsibility? When we are setting up our business, we often go through our checklist of legal responsibilities such as registering our company with the company’s house, registering with HMRC for taxes such as corporate taxes etc . One thing we often miss out is that how our business activity is going to affect our environment. Not only should we avoid impacting our environment negatively but also we should have a strategy to actively protect our environment. If you are self employed running your own business you are not legally required to produce a sustainability report. However, as individuals we have responsibility towards our surroundings and we should act socially responsible on all levels. Today, due to the pandemic crisis and the surge in the online shopping a lot of business start-ups have emerged which are operating online. We often ted to miss the point that online selling and buying is increasing the carbon emissions being released in our environments. Research shows that around 65- 75 % of the consumers check the sustainability strategy of the company before buying the product as with the increased awareness more and more people are likely to care about the environment that they live in. Having sustainable preferences might increase the cost of the product but in the long term this is likely to attract more customers who are looking for ways to protect the planet. So, If you are selling online you might want to consider the following points to be part of the eco friendly environment. It is important to be genuinely implementing sustainable policies to help the environment. If you are just advertising it to attract customers and not the policies practically this is known as green washing, and you will be accountable for false claims and misleading information. If you are thinking of selling online as a business or as self-employed and you are looking for advice from an accountant you can call Taxaccolega at 020 8127 0728, we are shopify accountants and we will help with all the accounting and legal matters. CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *
Social Influencer Tax – How Paid Posts & Freebies Are Taxed in the UK
Social Influencer How are paid posts, endorsements and other freebies taxes in the UK? With the increase in the use of social media there is an increase in the form of marketing known as ‘ influencer marketing’ It is a growing industry and according to business insiders it is on track to be worth up to 15 billion dollars by 2022. If you are a social influencer creating content on youtube or instagram and influencing thousands and sometimes millions of people it is likely that you are contacted by some brands who want to use your popularity to sell their products. Influencer marketing will be in the form of the following: Before you decide you need to pay tax on the paid posts, endorsements and freebies you need to consider some factors which are explained below but as a rule of thumb always make sure that if you are getting any type of income whether its trading or non trading always keep a record of all the income and expenses associated with it incase HMRC raises an enquiry. The factors are as follows: Tax on Paid Posts: If you are being paid for the posts and your income in one year exceeds the trading allowance then you will have to register for self assessment and pay the taxes according to your income bracket. Tax if you get a product to review: If you are given products which you review online with your followers, HMRC guides that such a transaction will come under ‘ Barter Transaction’. It states that any non monetary form of trading income is taxable in the same way and as part of the normal income. However, HMRC realises and states in its Business Income Manual that not everything can be converted into cash. So if you are receiving any product which you advertise online for example a free holiday stay you won’t have to pay tax on it. However, if you receive a valuable gift you will have to pay tax on it. It is important that the terms and the value of the gift are clearly agreed with the company sending the gift. Tax on free gifts: If you receive a free gift and there is an obligation attached to it for example advertising about it etc, once you have accepted it, then it becomes taxable. If it is just a gift of a gracious manner then it is non taxable. To make sure you are on the same page with HMRC you might consider hiring an accountant who can make things clearer for you. If you are looking for a social media accountants in Croydon, Surrey or South hall contact Taxaccolega at 020 8127 0728 and our team will give you expert advice tailored to your business. CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *
The Company is offering me car benefits – will I be able to pause if the circumstances change such as covid-19?
The Company is offering me car benefits – will I be able to pause if the circumstances change such as covid-19? The combination of salary and benefits in kind (BIK) often referred to as “perks” is what makes an attractive salary package these days. As mentioned in one of our previous blogs, some of these benefits in kinds are taxable and some are non-taxable. Car benefit is one of the benefits in kind on which you pay taxes if you are using it for our personal use or for private commuting. The amount of tax you pay will depend on the value of the car (which your employer will mention in the P11D). The value of the car is reduced if you pay something towards its cost, if it has low carbon dioxide emissions and if you have it part time. It will also depend on the tax bracket you fall in, You will be paying higher tax rates if you are in higher tax rate brackets. Do we continue to pay tax on company car benefit even if we are not able to avail the benefit due to situations like pandemic Covid-19? Well the answer is no, you don’t have to. To stop the company car benefit you should prove to HMRC that the company car wasn’t available for your personal use for at least 30 days, You will be able to save some tax in this way. To prove it to HMRC the best way is to hand over the company car keys to the employer for this time period. Or to return the car to the employer for this period. If the company is providing you with the company car as well as the fuel then your fuel benefit will also stop with the car benefit and you will be saving tax on the fuel as well. The benefits in kind are reported on P11D forms. This form needs to be submitted by 6 July following the end of the relevant tax year. For more tax deadlines see here. If there are any changes in the benefits in kind they should be reflected in the P11D forms What are my responsibilities as an Employee if there are any changes in the Benefits in Kind? Your employer should give you a copy of the P11D form and you should check the amounts of taxes you paid on the benefits. If there are certain figures you don’t agree with you should discuss them with your employer. If your benefit in kind is being payrolled by the employer, you need to check the tax code and the payslip to ensure the correct amount of taxes are being paid. HMRC suggests employee that If there are any alterations in your salary sacrifice arrangements they should be reflected in the contract. And they should be clear on their cash and non cash entitlement P11D can be a bit confusing as there are too many details to fill in. If you need any help with the P11D form contact our team of accountants at Taxaccolega at 020 8127 0728. If you are an employer and you need a payroll accountant we will provide you the payroll services at very affordable rates. Accountants based in Croydon, Surrey and Southall our expert team can help do calculations for you and meet the deadlines. CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *
Non‑Resident UK Property Buyer? SDLT Surcharge Explained
Stamp Duty Land Tax (SDLT) surcharge and the non-resident UK property buyers If you are a non resident interested in buying a residential property in the UK you should be aware that from 1 April 2021 different rates of SDLT will apply to you. As a non resident buying residential property in the UK (either freehold or leasehold)you will have to pay 2 percentage points higher than those paid by the UK residents . The surcharge will apply to you if you are a non resident and If you satisfy the residence rule after the transaction According to HMRC website “The individual buyers can claim a refund of 2% surcharge if after the purchase they are present in the UK for at least 183 days during any continuous 365 day period that falls within the 2 year period. If the transaction involved more than one individual, the refund can only be claimed if all the individuals in a transaction satisfy the residence rule. AM I A UK RESIDENT for SDLT purposes? For tax purposes HMRC will not consider you a resident depending on your nationality or your visa status. HMRC has set some rules to establish whether or not you are considered a non resident for SDLT purposes in a particular transaction. There are different rules for different situations, for example you might be buying property as an We have touched few situations below: If you are buying as an Individual If you are buying the property as an individual, you will be considered non- UK resident in relation to the transaction if you are not present in the UK for at least 183 days during the 12 month period before the purchase. An individual is considered to be present in the UK on a particular day if they are present in the UK at the end of the day. To prove that you were in the UK on a particular period you should keep a record of your phone bills and other utility bills such as energy bills. credit card statements, any proof of the use of a sports club etc. If you are buying with your married or a Civil Partner If you are buying your property with your partner both of you will be treated as UK residents if any one of you satisfy the UK residence rule at the time of the transaction. If you are a corporate buyer: If the corporate buyers are not UK resident for Corporation tax purposes at the time of the transaction they will be considered non UK resident and will have to pay the surcharge. If you are buying a property and you need any help in paying the surcharge or amending the return contact Taxaccolega, property accountants in Croydon, Surrey and Southall. Just call us at 020 8127 0728 and our expert team will be happy to help you. CTA Box See How Much You Can Save CALL NOW Take the stress out of UK taxes and accounting today — speak with a top-rated Taxaccolega chartered accountant for personalised advice tailored to your business or personal needs. Book a free Consultancy Related Posts ID Verification × ID Verification Form For Companies House From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House. Companies House will issue a personal code to PSCs. Taxaccolega (ACSP) can help collect data and assist. Please answer the questions and upload documents. Personal Details Fornames * Last Name * Date of Birth *