Company tax - Employee benefits and expenses


This can be a really tricky subject for many businesses. Without using the right documents, the Taxman is sure to come down hard


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Policy
Employee travel expenses policySince 6 April 2016 responsibility for determining whether business expenses reimbursed to employees and directors are exempt of tax and NI rests with the employer. Therefore, it's good practice to have a travel expenses ... Read more
20 Apr 2018
Credits: 1
doc
Policy
Employee - provision of home telephone policyIf one or more of your employees work from home and need a landline phone for work purposes, you might agree to provide the equipment and pay the rent and call charges. HMRC may argue that a benefit in kin... Read more
19 Feb 2018
doc
Letter
Employee loan letterWhere an employee or a director owes their employer more than £10,000 at any point during a tax year, a taxable benefit in kind arises. You need to work out the cash equivalent of this. Use this letter to write to any employees w... Read more
12 Apr 2017
Credits: 1
doc
Form
Election for share value to ignore restrictionsIf shares are acquired because of an individual's employment, they are liable to an income tax charge on the difference between the market value of the shares and the price paid by an employee, but specia... Read more
12 Apr 2017
Credits: 1
doc
Letter
Payrolling benefits in kind letter to employeeHMRC usually collects tax on benefits by adjusting an employee's code number so that extra tax is collected, through the PAYE system, each time they are paid salary. Payrolling achieves the same result but... Read more
21 Oct 2016
Credits: 1
doc
Form
Employee expenses claim formWhere an employee or director claims expenses from your business you should ask them to provide details for your accounting and tax records. The need to keep recordsEach employee who claims business expenses over the year ... Read more
16 Jun 2015
doc
Policy
Employees using their own cars for business policyIf employees use their own vehicles for business journeys, you should have a company policy which spells out the situation regarding insurance, parking and mileage rates at which you will reimburse th... Read more
08 Jan 2013
doc
Letter
PAYE settlement agreement letterA PAYE settlement agreement (PSA) can be used where you want to meet the PAYE tax and Class 1A NI liability in respect of small or irregular taxable benefits you provide to your employees. Typically, you are most likel... Read more
01 Sep 2010
Credits: 1
doc
Policy
Employee expenses policyFrom 6 April 2016 responsibility for determining whether business expenses reimbursed to employees and directors are exempt of tax and NI rests with the employer. To aid with this it's good practice to have an expenses policy i... Read more
01 Sep 2010
Credits: 1
doc
Miscellaneous
Mobile phone declarationThe old rule was that you could have as many mobile phones as you liked, tax and NI free. Now it's down to one per employee. If you have more than one, you will need to declare which one is to be your tax-exempt phone.Choose yo... Read more
01 Sep 2010