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employee benefits

Advisory Fuel Rates from 1 March 2019

The advisory fuel rates are changing from the 1st March 2019.

Advisory Fuel Rates from 1 March 2019

The advisory fuel rates are changing from the 1st March 2019.

Loans to employees

A reminder that if your business makes a loan to your employees or their relatives this can create tax problems for both employees and employers. And please don’t forget that the term “employee” includes directors, and also that loans to family members may be caught.   

Advisory Fuel Rates from 1 March 2019

The advisory fuel rates are changing from the 1st March 2019. These rates apply to employees who claim back fuel expenses when using a company car. The previous rates can be used for up to 1 month from the date the new rates apply.

Are you paying your employees tax efficiently?

With P11D submissions for employees due at the beginning of July, now is a good time to take stock of the benefits you provide to your workforce and evaluate if there are more tax efficient options available.  It’s also worth reviewing whether there are more potentially appealing benefits you could be providing that could help you to attract, remunerate and retain staff.  In this article we look at a selection of employee benefits that are exempt from tax. Whilst this list is not exhaustive, each is worth considering to see if it would be a positive step forward in the tax position of both the employee and the business itself.  

Processing benefits and expenses through your payroll

There is now a voluntary facility for employers to put benefits and expenses through their payroll without having to submit a form P11D after the end of the tax year. If you intend to do so for the 2017/18 tax year, you must register with HMRC before 5 April 2017.