For those submitting P11Ds, 6 July 2019 will mark the deadline for reporting relevant benefits and expenses provided in 2018/19. It is important to ensure that any mileage payments made to directors and employees are within the HMRC approved rates if you want to avoid a benefit in kind. For business travel in an employee’s … Continue reading Employment Benefits: Mileage Payments
Employers should take care not to overlook the provision or reimbursement of mobile phone costs when determining whether a benefit in kind applies, as mobile phone costs are only exempt in certain circumstances. A mobile phone will be exempt from reporting if the employee is provided with only one mobile phone or sim card, and … Continue reading Employment Benefits: Mobiles Phones
The start of the new tax year brought significant changes to legislation. It is also P11D season: these need to be completed soon. Increasing minimum wage From April 2019, the National Minimum Wage (NMW) and the National Living Wage (NLW) rates increased. From 1 April 2019, the hourly rates of pay are as follows: Age … Continue reading New Tax Year, New Tax Rules: Are You Up-To-Date?
Once again we find ourselves in P11D season, that joyous time in the tax calendar where expenses and benefits provided by employers to their employees are dissected for inclusion on the P11D. Employers will no doubt have the same conversations they have with their accountants each year concerning the chargeability of benefits and expenses and … Continue reading It’s HMRC On The (Mobile) Telephone
Previously, there was no minimum cost threshold below which benefits were disregarded for tax purposes. This changed on 6 April 2015. From this date ‘trivial’ benefits are disregarded and no longer have to be reported on the dreaded PIID (Return of expenses payments and benefits). So what is a trivial benefit? The conditions for the … Continue reading Trivial Benefits – A New Exemption
PAYE compliance visits can be a tricky business and should your business be selected, HMRC will delve into not only the payroll records but also the expenses and reimbursement procedures, benefits in kind, employment status and shareholder-director dividends. Should they discover errors they can go back up to four years in order to track them. The initial … Continue reading 3 Pointers For Passing Your PAYE Inspection