With its soft sponge base, thin chocolate topping and tangy orange centre it would be hard to find someone in the UK who didn’t like the humble Jaffa Cake, well, unless you ask around the HMRC office that is. In 1991 the powers that be at HMRC tried to reclassify Jaffa Cakes as biscuits which would have pushed up the price by 20%. There was an outcry. How could the Jaffa “Cake” which goes from soft hard when stale, as opposed to a biscuit which goes from hard to soft when off, be victimised like this?!

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In these times of strained government finances, maximising tax receipts has become a key priority for the Chancellor. Make sure you don't get caught out by an inspection.

In these times of austerity, tax free employee benefits are an interesting alternative to pay increases and great for improving employee morale.

Distributing cash to small business owners through dividends is classically much more tax efficient than taking the same amount through salary, but is there anything else to watch out for?

Payroll reporting requirements are changing. Find out what needs to be done.