HMRC’s webinar on trivial benefits for employees gives helpful guidance about income tax and NI but doesn’t tackle the corporation tax and VAT consequences. If you intend to provide trivial benefits
what do you need to know about these?
Published 19.02.2019
In January, the rules on employee benefits-in-kind changed and can now mean VAT is payable in situations where it didn’t apply before. But is this extra cost to your business a tax-deductible
expense?
Published 14.05.2012
You’re with your accountant and about to sign off your firm’s annual accounts. There’s nothing unusual in this year’s figures, but actually they might contain hidden VAT charges. Why and what should
you be doing about them?
Published 02.03.2017
Providing your employees with benefits in kind is a supply for VAT purposes on which you might have to account for VAT. However, special rules and HMRC concessions mean this doesn’t apply in all
circumstances. So when can you take advantage?
Published 12.12.2022
Apart from paying salary to your workers it’s likely you’ll make other financial transactions with them, such as providing benefits-in-kind (BiKs) and reimbursing business expenses. But where do you
stand with the Taxman on these?
Published 18.10.2011
You want to move nearer to your business to reduce the long daily commute. Your company is paying some of your personal removal expenses, but can it reclaim the VAT on these?
Published 18.09.2017
If you provide your employees with benefits in kind as an optional alternative to salary, special anti-avoidance income tax rules apply. Are there also VAT aspects you need to consider?
Published 18.09.2023
You offer your staff an optional remuneration arrangement as an alternative to part of their salary. You’ve now been told that you must account for VAT on the value of the arrangement. Does this mean
you owe HMRC a stack of cash?
Published 08.04.2021
When it comes to claiming the VAT on a three-piece suite the VATman will discriminate against you if you are a small company. How can you make sure you get the same generous treatment as large
companies?
Published 27.01.2005
Just weeks after saying that VAT must be paid on certain employee benefits from January, the Taxman has announced a concession. What’s the full story?
Published 03.11.2011