The usual method of declaring employees’ benefits in kind and taxable expenses is via the annual P11D form submission. Employers can also ‘payroll’ these benefits
Flexible furloughing As far as the Coronavirus Job Retention Scheme is concerned, it is all change from 1 July 2020. From that date, employees can
Company car mileage rates update The company car benefit tax charge does not cover fuel provided for a company vehicle. This means that where an
Reclaim SSP for Covid-19 absences Small employers can now reclaim statutory sick pay (SSP) paid to employees who were absent from work due to the
Reporting expenses and benefits for 2019/20 Employers who provided taxable expenses and benefits to employees in 2019/20 need to tell HMRC about them by 6
Trivial benefit traps – Contractual obligations The trivial benefits exemption allows employers to provide employees with low cost benefits free of tax and National Insurance
Weighing up LLPs A limited liability partnership (LLP) is similar to an ordinary partnership in that a number of people or limited companies join together
When is a car a pool car? Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and
Payroll – how to deal with new starters From a payroll perspective, there are various tasks that an employer has to perform when they take
It is permissible for a business to claim a tax deduction for the cost of a reasonable wage paid to a family member who helps
If an employee is able to use a work’s van for private use, which generally includes home-to-work travel, there will be a taxable benefit and
A PAYE Settlement Agreement (PSA) enables the employer to pay the tax and National Insurance instead of the employee on those benefits and expenses included
Where employees were provided with taxable benefits and expenses in 2018/19, these must be notified to HMRC. The reporting requirements depend on whether the benefits
For personal and family companies it can be beneficial to extract some profits in the form of a salary. Where the individual does not have
The National Living Wage (NLW) and National Minimum Wage (NMW) increased from 1 April 2019. From that date, the NLW, payable to workers aged 25
The question of whether tips and gratuities are taxable and subject to National Insurance Contributions (NICs) often results in a lively debate. Broadly, their treatment
HMRC commonly find errors in relation to directors’ loan accounts when making routine reviews of company tax returns. This article looks at the importance of
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income,
The non-cumulative nature for calculating National Insurance Contributions (NICs) makes it possible to manipulate earnings to reduce the overall amount payable by taking advantage of
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