All posts in Employee Benefits

Form P87 Tax Relief for Expenses of Employment

Your employees may be able to claim tax relief if they have to use their own money, and you haven’t reimbursed them, for travel or things that they must buy for their job.  For example; – repairing or replacing small tools – cleaning, repairing or replacing specialist clothing, for example, a uniform or  safety boots – business mileage, where an employee uses their own vehicle or fuel costs, if using a company car – travel and overnight expenses – professional fees and subscriptions paid to some approved professional organisation   It’s free and easy to make a claim through HMRC….

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Tax Free Benefits

Rewards for employees where the employer and the employee benefit from cost savings include; Childcare Support Workplace Nursery Employee Travel Workplace Parking Staff Recognition Awards Gym Membership Employee Cars Mobile Phones Well-persons Check Private Healthcare Carbon off-setting Luncheon Vouchers Christmas Parties Meals in Staff Canteen Hot Drinks & Water at Work Car Clubs Professional Subscriptions Trivial Benefits upto £50 (inc High Street Vouchers) Training Long Service Awards Read more here  

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Tax Free Payments in Lieu of Notice (Pilons)

As a rule Payments in Lieu of Notice (Pilons) are taxable, unless there is no express Pilon clause in the contract of employment and an employer has not established a tradition of paying departing staff Payments in Lieu of Notice.  In this instance the payment is an advance payment of damages, aimed at compensating the employee for the employer’s breach of contract and avoiding a potential legal claim, and will be exempt upto £30,000. Employers that wish to make tax free Payments in Lieu of Notice should check what they are doing to avoid a tax liability, because if employers incorrectly decide…

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Making the most of Trivial Benefits

Now its even easier to be a lovely employer and give your employees Trivial Benefits in the form of treats and perks without creating a liability for the employee to Income Tax for a Benefit in Kind (BiK). To qualify as a Trivial Benefit, conditions A-D must be met; A – the BiK must not be cash or a cash voucher B – the BiK must cost £50 or less C – the BiK must not be provided as part of a salary sacrifice or contractual arrangement D – the BiK must not be provided in recognition of service performed…

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Apply, Update or Renew Dispensations before the end of the tax year, 6th April

Any money paid by an employer to an employee must be reported via the payroll or a P11D, or P9.  A Dispensation is a notice from HMRC that removes the requirement for an employer to report certain expenses and benefits at the end of the tax year on a P11D or P9.  It also removes the requirement for employees to submit claims for deductions against expenses reported on forms P11D or P9D. A Dispensation can take effect from the start of the tax year in which the application is made, so for 2014/15 you need to make yours before no…

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Tax Free Benefits

Rewards for employees where the employer and the employee benefit from cost savings include; Childcare Workplace Nursery Employee Travel Staff Recognition Awards Gym Membership Employee Cars Mobile Phones Well-persons Check Private Healthcare Carbon off-setting Luncheon Vouchers Car Clubs Professional Subscriptions High Street Vouchers

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