Changes proposed to the benefits in kind rules might mean you can make personal use of your company’s credit card, tax free, for up to 18 months. How can you take advantage of this?
Published 12.06.2017
In April 2016 a new method for taxing job-related perks through the payroll takes effect. The trouble, especially for directors, is that the value of perks can change over the course of a tax year.
How will the new system work in this situation?
Published 07.03.2016
Wouldn’t it be nice to have your own place in the sun and escape there every so often when the going gets tough. And wouldn’t it be even better if there were tax relief on the running costs; the idea
is not as far fetched as you might think.
Published 06.07.2010
A subscriber’s company provided perks to him and his spouse. The perks were declared on their respective tax returns, but HMRC argues that they are all taxable on him, which meant a bigger tax bill.
Is HMRC right?
Published 17.04.2018
One of your part-time staff has asked for a salary advance to help pay for dental work. You’re happy to oblige, but can you help further by using a loophole in the tax system? And might the same
trick work for you?
Published 03.02.2014
New rules for “making good” benefits in kind apply for 2017/18, including a change to the deadline. What do employers and employees need to know?
Published 15.01.2018
The Chancellor wants to merge tax and NI, but that won’t happen soon. This is good news because it means you can still use the “earnings period” loophole to cut your employees’ NI bill. How does this
work?
Published 12.10.2011
Dividends might be the most tax-efficient way to take income from your company but they can only be paid out of profits. This means for a recently started business they probably aren’t an option.
What’s the next best thing?
Published 01.05.2012
Salary sacrifice schemes can reduce your tax and save your company NI costs. But depending on the amount and type of income you receive the savings can vary widely. How can you get the best result?
Published 17.10.2012
If business is slow and your staff have time on their hands, you could use them to do personal work for you. But what steps should you take to ensure maximum tax efficiency for you and your company?
Published 25.05.2012