Article Database
Search results: 21 article(s) found in topic: Benefits - keyword: Assets
relevanceBENEFITS
Reducing your tax bill on perks
In anticipation of another scorching summer you’ve used company cash to buy three mobile air conditioning units for your home. You realise that there will be tax and NI to pay on this perk, but how can you minimise it?
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BENEFITS
Change at last to tax on private use of company assets
The government has drafted new legislation to put a stop to directors and employees potentially being hit by disproportionate tax charges for using a company-owned asset. What’s the full story?
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REDUNDANCY
Paying off employees with assets; is it tax efficient?
If a job becomes redundant it might be more than the worker you no longer need. The tools they used for their job may also be surplus. If you give these to the employee as part of their redundancy package what will the Taxman say?
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BENEFITS
Can watching the Olympics at work benefit you?
Whether you’re interested in sport or not, the world will have its eyes focused on the UK this summer. This will no doubt include a good many of your employees. How can you turn this potential distraction into a tax-free benefit?
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PROFIT EXTRACTION
Tax-efficient property improvements
Where your company pays for improvements to property which you own, this counts as a taxable benefit for you even if the business occupies and uses the building. How can you defer and possibly reduce the tax bill?
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PROFIT EXTRACTION
Personal use of your company’s buying power
Where your company buys or makes something and later gives it to you, this can trigger stiff tax charges. But is there a way you can use your company’s buying power to save money on purchases and dodge the tax charges altogether?
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PROFIT EXTRACTION
Tax-efficient house purchase
If your business is relocating to a more expensive area, or you’ve got your eye on a property that’s just out of your price range, is there any way in which your company can help with the finances without triggering a huge tax bill?
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BENEFITS
No cost, no taxable benefit?
A colleague has told you that instead of discounts from his suppliers he’s asking them for extra items, free of charge. He reckons that as these have no cost he can take them out of his company tax-free. Is this something you could do?
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PROFIT EXTRACTION - COMPANY CARS
Two cars are better than one
Do you want to get some cash out of the company tax-free? You could hand over the keys to your family’s second car in exchange for cash, and keep using it. But will having more than one company car land you with a big tax bill?
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BENEFITS-IN-KIND
Tax-free equipment
It’s not unusual these days for directors and employees to work from home, with the business supplying computer and office equipment. This can lead to trouble in the form of a tax bill for the employee and employer. What’s the solution?
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