When Employers consider their exposure to national insurance contributions for Directors and employees, they tend to think only of the Employer's contributions due on the salaries paid. However, significant further NIC liabilities can arise in respect of benefits-in-kind. There are two types of potential NIC on benefits provided: Class 1 NIC - payable by both … Continue reading Employer Beware! National Insurance Contributions On Expenses Can Be Significant
If you have a company vehicle which is available for private use (regardless of whether in fact, there is any such use) the taxable benefit could differ enormously depending on whether or not the vehicle is classed as a van or a car. It would normally be significantly cheaper if the vehicle is regarded as … Continue reading Is Your Van A Car For Tax Purposes?