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Search results: 8 article(s) found in topic: Tax and VAT - keyword: Benefits in kind

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BENEFITS

Don’t miss the benefits payrolling deadline

TAX - BENEFITS

Are travel discount cards a taxable perk

You buy season tickets and discount cards for your staff to lower the cost of business travel. They’re also used by staff for private journeys, which saves them hundreds of pounds a year. Should you report this as a taxable benefit? More...

TAX - BENEFITS

Benefits in kind - how to avoid losing the exemption

Directors and employees can receive low value perks tax and NI free. The trouble is if the cost of a benefit exceeds the exempt amount it’s fully taxable and liable to NI. How can you avoid this trap but maximise the exemption? More...

EXPENSES

Is compensating an employee taxable?

A while ago one of your employees ripped her coat on a desk at work. You agreed to pay for a replacement. In a subsequent PAYE check an HMRC officer said the payment was taxable and you owe tax and NI. Can this be right? More...

TAX

Childcare - more good news

In March 2018 HMRC put back the deadline for employer childcare schemes. It’s now gone a step further by extending the exemption to certain payments outside the scheme. What’s the full story? More...

TAX-FREE BENEFITS

Bike at the Taxman’s expense

Summer’s here (apparently), and a couple of employees have asked about buying a bike through work. You’ve heard that HMRC supports ideas like this through tax breaks. What’s to know? More...

TAX - DIRECTORS’ LOANS

Can you reduce the tax and NI on company loans?

Our subscriber’s company lent him a large sum shortly before the end of the last tax year. His bookkeeper says that the timing of the loan means he and the company face a large tax and NI bill. Why and is there a way to dodge it? More...

PROFIT EXTRACTION

Company perks for your spouse - are they tax efficient?

A subscriber’s company provided perks to him and his spouse. The perks were declared on their respective tax returns, but HMRC argues that they are all taxable on him, which meant a bigger tax bill. Is HMRC right? More...
Last updated: 25.03.2019

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