Article Database - Topic: 'Benefits' - Keyword: 'Benefits-in-kind'

 
HMRC tweaks guidance on tax-free phones Publication date: 22.01.2020
Article database » Benefits » Benefits-in-kind
HMRC tweaks guidance on tax-free phones..Two tax-free phones. HMRC has recently confirmed that it’s possible for an employee or director to have two tax-free mobile phones where one of them is for business use and the private use is insignificant. But the exemption doesn’t apply to a phone provided as part of a salary sacrifice arrangement. It also...
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Can you choose who to offer a tax-free perk to? Publication date: 16.10.2019
Article database » Benefits » Benefits-in-kind
You want to use tax and NI-free perks to improve the value of salary packages for some of your staff. Paying for pensions advice is one possibility but HMRC’s conditions make it tricky to target this tax break. Is there a workaround?
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Deadline for 2018/19 PAYE settlements Publication date: 02.10.2019
Article database » Benefits » Benefits-in-kind
Deadline for 2018/19 PAYE settlements..Employee benefits. If you’ve agreed to settle the tax bill for benefits provided in 2018/19 to your employees using a PAYE settlement agreement with HMRC, you must complete and submit details to it on Form PSA1 by 19 October 2019 (see The next step ). You must also pay the tax and Class 1B NI contributions by...
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When can you be taxed for parking at work? Publication date: 08.07.2019
Article database » Benefits » Benefits-in-kind
Your business has relocated to premises with fewer parking spaces. You’ve rented extras in a private car park a fair walk from the office. This can count as a taxable perk for employees who use them but when does this rule apply?
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Confusion over trivial benefits exemption Publication date: 13.06.2019
Article database » Benefits » Benefits-in-kind
During an HMRC webinar the host dug herself a hole when explaining the tax position for low cost perks. She said that snacks regularly provided by an employer aren’t exempt. She was wrong but is there any truth in what she said?
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Reducing your tax bill on perks Publication date: 03.06.2019
Article database » Benefits » Assets
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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Now’s the time to turn back the clock on taxable perks Publication date: 17.04.2019
Article database » Benefits » Benefits-in-kind
In 2018/19 your company provided you with benefits in kind. As it stands you’ll be taxed on them and your company will have to pay Class 1A NI. There’s still time to prevent these charges. How’s it done and is it worth it?
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Tax and the cost of medical treatment Publication date: 27.09.2018
Article database » Benefits » Benefits-in-kind
One of our subscribers needs a back operation. He can get it done privately in a matter of weeks but it’s expensive. As he needs treatment to do his job he asked HMRC if he could claim a tax deduction. It said no, but is this right?
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Pay a dividend now to defer and reduce last year’s tax Publication date: 13.06.2018
Article database » Benefits » Benefits-in-kind
Your accountant is finishing work on your company’s accounts. He suggests paying a dividend to cover payments your company made last tax year which will otherwise be taxed as benefits in kind. Will this cause trouble with HMRC?
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Business seminars - are they always tax deductible? Publication date: 13.06.2018
Article database » Benefits » Benefits-in-kind
You’re considering attending a weekend seminar for work. Because it includes accommodation and meals it’s pricey. If you can get tax relief for it you’ll go, so can a tax deduction be claimed or not?
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Last updated: 31.07.2020
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