by Ray Baxter | Apr 10, 2024 | Blog
Tax Tips for Employees: Tax rules sometimes seem like one compliance hurdle after another. So it’s good to know that some of them can be used to benefit your employees. The ‘trivial benefits’ rules are an example. Correctly applied, they allow a benefit costing not...
by Ray Baxter | Feb 7, 2024 | Blog
This week we’re talking about tax, more specifically, Smart Money-Shifting. With interest rates rising, this is good news for savers, or is it? The tax implications of earning interest on your savings income should be looked at carefully, as those with savings...
by Ray Baxter | Dec 1, 2016 | Business Updates
Childcare Vouchers (Old scheme) – This employer led scheme allows you to provide a member of staff with childcare vouchers worth up to £55 per week completely tax free. You can gift the vouchers instead of salary (salary sacrifice). You save the employer’s national...
by Ray Baxter | Dec 1, 2016 | Business Updates
Gifts – As of 6th April 2016, “trivial” benefits up to the value of £50 are tax and N.I. free.This covers gifts to your staff such as a bottle of wine, chocolates, flowers etc. However, cash gifts and gift vouchers are excluded from this. Entertainment – You can pay...
by Ray Baxter | May 27, 2016 | Business Updates
HMRC have changed the rules on the re-imbursement of expenses to employees. Expenses are no longer treated as taxable income and do not need to be reported on a P11D annually as before. Expenses qualify for this treatment if, had the employee borne the cost...
