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Search results: 50 article(s) found in topic: Directors pay and benefits - keyword: Directors benefits

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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...

TAX - BENEFITS

HMRC’s guide to the new benefits rules

New rules for “making good” benefits in kind apply for 2017/18, including a change to the deadline. What do employers and employees need to know? More...

NATIONAL INSURANCE

Taxable perks and an NI loophole

Benefits in kind are usually more NI efficient than salary. However, the opposite can be true for director shareholders who receive a low salary, perhaps topped up with dividends. What savings are possible and how can you take advantage? More...

TAX

Lending to your business tax efficiently

Your business needs extra cash. While you have the funds available, it might be more tax efficient if the money came from your spouse because they pay tax at a lower rate than you. How can you arrange the transaction to take advantage? More...

BENEFITS

Is parking at work a taxable perk?

You pay for parking spaces for your company’s directors as there’s nowhere on site. During a PAYE check HMRC claims that because the spaces are also used for non-work purposes there’s a taxable perk. Is this correct? More...

TAX - BENEFITS

Tax-free personal use of your company credit card

Changes proposed to the benefits in kind rules might mean you can make personal use of your company’s credit card, tax free, for up to 18 months. How can you take advantage of this? More...

TAX - LOANS

Using company money to pay your tax bill

You have a large self-assessment tax bill to pay at the end of January. The trouble is that after the excesses of the festive season you’re a bit strapped for cash. What are the tax consequences of using company funds to pay HMRC? More...

TAX - AUTUMN STATEMENT

The last ever Autumn Statement - what’s in it for you?

From a tax point of view the 2016 Autumn Statement wasn’t terribly exciting. However, the Chancellor announced a few changes which will have an impact on businesses. How might they affect you? More...

TAX - BENEFITS

What are the new tax-free perks worth to you

A new tax exemption for perks took effect on 6 April 2016. It applies to all employees, but there are special rules for directors. What are they, and how can you work with them to take maximum advantage? More...

TAX

When to include a perk in your payroll calculation

In April 2016 a new method for taxing job-related perks through the payroll takes effect. The trouble, especially for directors, is that the value of perks can change over the course of a tax year. How will the new system work in this situation? More...
Last updated: 14.12.2018

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