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Where a company provides a benefit to a participator which would be treated as a benefit in kind (¶27250) if provided to an employee or director, it is treated as a distribution. This rule does...
If an employee accepts a reduction in pay in return for a benefit in kind, the unreduced pay will still be liable to tax. -Heaton v Bell [1969] For optional remuneration arrangements, including salary...
Unless the benefit was first provided before 6 April 1998, employers are required to report the provision of post-retirement benefits in kind exceeding £100 per annum (such as medical insurance) which...
Where a land transaction is entered into for the purposes of employment and is one that is treated as a taxable benefit under the income tax provisions for living accommodation provided by an employer...
OpRA transition rules not affected by virus..Salary sacrifice. In 6 April 2017 anti-avoidance rules were introduced to limit the tax and NI savings that employers and employees could...
The national minimum wage increases went ahead as planned in April 2020. However, the new rates aren’t the only thing to have changed. What else do you need to make your clients aware...
Salary sacrifice and minimum wage..Minimum wage. The government is cutting minimum wage red tape on salary sacrifice schemes. High profile cases, like Iceland’s Christmas savings club, saw...
Your spouse owns shares in your company. As well as paying dividends it provides her with a car. She has declared it as a shareholder’s benefit but HMRC has challenged this and says that the...
Shareholders can be taxed on non-cash benefits as if they were a dividend. However, what is the position if the company is located outside the UK and what other issues do you need to advise a shareholder...
You’ll soon need to prepare Forms P11D for 2018/19. Like many employers this might be the first time you need to include benefits provided to employees through salary sacrifice arrangements....