Inheritance tax – frequent gifts can be free of tax. Within a family scenario, there are many situations in which one family member may make a gift to other family members. However, the way in which gifts are funded and made can make a significant difference to...
Travel expenses – do you visit other offices or are you seconded to a different workplace? Are you eligible for tax-free commuting? As a general rule, employees are denied a tax deduction for the cost of travel between home and work. Likewise, subject to a few...
Individuals who make charitable donations can do so tax-free. There are various ways of making tax-relieved gifts to charity – the way in which the relief works depends on whether the donation is made via Gift Aid, as a deduction from wages or a pension via the...
Employees with a company car are taxed – often quite heavily – for the privilege. The charge is on the benefit which the employee derives from being able to use their company car for private journeys. The amount charged to tax is a percentage of the ‘list price’ of...
The payment of National Insurance contributions provides the mechanism by which an individual builds up their entitlement to the state pension and certain contributory benefits. Different classes of contribution provide different benefit entitlements. Employed earners...
Where employees were provided with taxable benefits and expenses in 2018/19, these must be notified to HMRC. The reporting requirements depend on whether the benefits were pay-rolled or not. Benefits not pay-rolled Taxable benefits that were not pay-rolled in 2018/19...
