Benefits in kind
Employer guidance from HMRC
Employer guidance from HMRC HMRC has issued Employer guidance in the latest Employer Bulletin. This issue includes articles on a number of areas including: guidance for employers on reporting PAYE information in real time when payments are made early at Christmas electronic payment deadline falls on a weekend Ultra Low Emission Vehicle High Income Child Benefit Charge deadline 31
Forms P11D – reporting employee benefits
Forms P11D – reporting employee benefits The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information and completing the forms can take some time, so it is important that
Reporting Benefits in Kind – Forms P11D
Reporting Benefits in Kind – Forms P11D The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information can take some time, so it is important that this process is
Advisory fuel rates for company cars
Advisory fuel rates for company cars New company car advisory fuel rates have been published which took effect from 1 December 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys
Tax-free gifts for employees
Tax-free gifts for employees Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A tax exemption is available which should help employers ensure that the benefits provided are exempt and do not result in a reportable employee benefit in
Latest employers guidance from HMRC
Latest employers guidance from HMRC HMRC has published the latest edition of the Employer Bulletin. This employers guidance for employers, and their agents, includes articles on: Reporting your payroll information accurately and on time Irregular payments and completion of Full Payment Submissions Starter Declaration on a Full Payment Submission (FPS) PAYE Settlement Agreements and Scottish Income Tax National Living
Form P11Ds to include benefits in kind
Form P11Ds to include Benefits in Kind provided by salary sacrifice Employers need to report all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) or “salary sacrifice” arrangements, to HMRC on form P11D from 6 April 2018, unless they are registered to voluntarily payroll benefits. Benefits in Kind and Optional Remuneration Arrangements OpRAs are where
Changes to diesel company cars
Company car benefits are based on CO2 emissions data which has encouraged employees to choose diesel cars due to lower CO2 emissions. The government is trying to reduce the number of diesel cars and will increase the current 3% diesel supplement to 4% from 6 April 2018. As previously announced radical changes to the company car benefit rules are
HMRC have updated their guidance on salary sacrifice schemes
The rules for salary sacrifice arrangements changed with effect from 6 April 2017 and HMRC have updated their guidance for employers. The idea behind salary sacrifice schemes is pretty straight forward. Basically, you accept a slightly lower salary – hence salary sacrifice scheme – and then in return your employer gives you some kind of benefit, i.e. one that
Trivial benefits
Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied: the cost of providing the benefit does not exceed £50; the benefit is not cash or a cash voucher; the employee is not entitled to the benefit as part of their employment conditions; and the employer does not
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