by Ray Baxter | Apr 10, 2024 | Blog
Given that the tax rules sometimes seem like one compliance hurdle after another, 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 more than £50...
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...
by Ray Baxter | Oct 26, 2015 | Business Updates
AIA which provides 100% tax relief on qualifying Capex has been set at £200,000 from 1st January 2016. This has now been made permanent. Annual Investment Allowance has fluctuated throughout its history. It started at £50,000 in 2008, rose to £100,000, fell again to...
