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    Letter to employees regarding trivial benefits

    Letter to employees regarding trivial benefitsThe tax and NI exemption for trivial benefits is a great way to reward your employees with small gestures. You need to maintain certain records as...

    Income tax - Employment income - Expenses and benefits - II. Benefits in kind - Taxable benefits - 27405

    Subject to the trivial benefits rule, all employees are taxable on benefits which are not statutorily exempt (¶27280).

    Income tax - Employment income - Expenses and benefits - II. Benefits in kind - Taxable benefits - Living accommodation - b. Ancillary expenses - Employee in job-related accommodation - 27515

    Where the provision of living accommodation is not taxable because the employee satisfies one of the exceptions in ¶27475, the amount assessable in respect of ancillary services (other than...

    Income tax - Employment income - Expenses and benefits - II. Benefits in kind - Taxable benefits - Vehicles - c. Company vans - Provision of van - 27770

    The cash equivalent of the van benefit for 2020/21 is £3,490 (2020/19: £3,430). The amount of the cash equivalent is reduced where the van is either unavailable (¶27695) or is a shared van....

    PAYE and NIC - Pay as you earn - Other payments and deductions - Benefits and expense payments - Payrolling of benefits - 40940

    An employer can choose to process certain benefits via the payroll, excluding living accommodation and beneficial loans.Comment The advantages of payrolling are: - benefits taxed in this way...

    Using a company credit card tax free

    You need some extra personal cash for a relatively short term. You could borrow from your company, assuming it has the funds, but this has tax consequences. Might a company credit card be a better solution?

    OpRA - benefits transition period closing

    When optional remuneration arrangements (OpRAs) were introduced in 2017 some benefits in kind were given a four-year transitional window. This ends on 5 April 2021. What are the key elements?

    Tax-efficient income from your company

    There are broadly three ways to extract income from your company but none of them is singularly the most tax efficient. What factors should you be considering when deciding which one to use?

    Coronavirus pressures hits HMRC system

    Coronavirus pressures hits HMRC system..Realocation. The deadline for filing the annual Form P11D is 6 July each year. However, due to HMRC staff being reallocated to prioritise helping businesses...

    Taxis to work - the tax and NI implications

    The government is urging businesses to get their staff back to their normal places of work. But some staff will be anxious about using public transport. What might be the tax and NI considerations...