Article Database - Topic: 'National Insurance' - Keyword: 'Benefits'

 
Tax-efficient rewards for multiple directorships Publication date: 04.03.2019
Article database » National Insurance » Benefits
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 use it?
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Trivial perks NI trap Publication date: 24.11.2016
Article database » National Insurance » Benefits
Trivial perks NI trap..Trivial perks. You probably know that you can now give perks to your employees free of tax as long as they cost no more than £50 per head. This also applies to directors, but subject to £300 per tax year. The exemption has applied since 6 April 2016 despite the legislation that introduced it (Finance Act 2016) not becoming law...
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Don’t miss the Class 1A NI deadline Publication date: 07.07.2016
Article database » National Insurance » Benefits
Don’t miss the Class 1A NI deadline..NI on perks. All employers should now have submitted their benefits and expenses Forms P11D and corresponding annual declarations Form P11D(b) for 2015/16. The deadline for both documents was 6 July 2016. However, there’s another related deadline approaching. Class 1A. As an employer you’re liable...
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Saving NI on benefits in kind Publication date: 17.01.2014
Article database » National Insurance » Benefits
As a general rule, the cost of NI on benefits in kind (BiKs) is less than that on salary etc. But in some situations the opposite is true. When can you take advantage of this?
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Reversing an NI charge on benefits Publication date: 04.02.2013
Article database » National Insurance » Benefits
Where a director or employee is taxed on a benefit in kind (BiK), an NI charge also applies. The tax is reduced to nil if they reimburse the cost of providing the benefit, but HMRC says the NI bill stands. Is this right?
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Nine million NI payments gone astray Publication date: 17.02.2011
Article database » National Insurance » Benefits
The Taxman has £1.2 billion of unallocated NI. If some of this is yours, it might reduce the state pension you can claim. Should you be worried?
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Avoiding class 1 contributions on expenses payments Publication date: 26.03.2009
Article database » National Insurance » Benefits
Some of our subscribers have told us that following recent PAYE inspections the Taxman is demanding NI on expenses payments to employees. Is this correct? And if so, what steps can be taken to avoid the problem?
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Pay your spouse tax and NI-free for extra benefits! Publication date: 15.01.2009
Article database » Husband and wife companies » Miscellaneous
It’s not often the Taxman offers something for nothing, but there are some free benefits to be had by paying your spouse even a low salary from your business. What are they?
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Membership of a golf club Publication date: 26.04.2007
Article database » Benefits » Remuneration package
Can your company pay for your golf club membership without any tax consequences for you? According to one of your colleagues it can. Too good to be true? What’s the full story here?
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Targeted vouchers Publication date: 30.03.2006
Article database » Benefits » Benefits-in-kind
A colleague says he increases productivity and promotes initiatives by rewarding his staff with gift vouchers. What’s the full story here? Is there really a tax saving to be had?
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