PAYE and NIC - National Insurance contributions - Contributions for employees - Class 1A contributions - 43655

    All taxable benefits in kind (¶27415+) are liable to Class 1A contributions unless they are specifically excluded (¶43660) or already liable to Class 1 (for example readily convertible assets). Contributions...

    Tax-efficient rewards for multiple directorships

    As an alternative to salary or dividends, benefits in kind are a potentially tax-efficient option for directors, especially those of multiple companies. What’s the advantage and when can you...

    Salary is more tax efficient than a perk

    Salary is usually the most expensive way, in terms of tax and NI, to get money out of your company, but not in every case. When are you better off taking salary or a bonus instead of benefits...

    Minimising NI on your perks

    Taking perks instead of salary can reduce tax and NI costs, but not in every situation. How can you structure your benefits in kind to minimise NI costs?

    Trivial benefits - what’s the latest?

    A new statutory exemption for very small benefits provided to employees is now available to simplify your clients’ reporting. Whilst this is valuable, what traps do you need to be aware of...

    Payrolling benefits in kind - should you opt in?

    A new voluntary payrolling system for certain benefits in kind arrives on 6 April 2016, but you need to register upfront. When will it be worthwhile and what do you need to do if you or your...

    It’s P11D time!

    HMRC has released its 2014/15 benefits and expenses Form P11D plus updated guidance to go with it. Is there anything new to watch out for?

    How to pay Class 1A NI

    HMRC’s latest employer bulletin was issued yesterday on 18 June 2014 and sets out how you should pay your Class 1A NI for the year ended 5 April 2014. What do you need to know?

    Getting your company to pay university fees

    One of our subscribers recently asked us whether there was a tax advantage in getting his company to pay his daughter’s tuition fees. And, if so, what steps did he need to take to achieve this?

    Who pays the tax on benefits?

    We’re getting reports of a money-making scam being used by the Taxman to bolster the Chancellor’s coffers. Employers are being conned by PAYE inspectors into coughing up tax that isn’t...