employer returns Archives - Page 11 of 13 - Whitefield Tax - Isle of Wight Accountants

Trivial benefits

by Jessica Garbett | Mar 23, 2016 | ACCA, business taxation, employer returns, personal taxatation

The HMRC manual changes to take account of Section 323A ITEPA 2003 sets out a statutory exemption for trivial benefits. Under this exemption, ‘if an employer provides a benefit to its employees, the benefit is exempt from tax as employment income if all the...

Benefits in kind loans to directors and employees

by Jessica Garbett | Feb 8, 2016 | ACCA, employer returns, personal taxatation

What happens when benefits in kind loans are not exempt from reporting. If the loans are not exempt from reporting they should have been included on the P11d of the employee. The normal method of calculation is to take the average for the year: Take the average of the...

Scottish rate of income tax

by Jessica Garbett | Jan 12, 2016 | ACCA, employer returns, personal taxatation

HMRC preparing to issue tax codes beginning with an S. The Scottish government will publish its Budget on 16 December 2015. It will include proposals for the Scottish rate of income tax, which would apply from April 2016. What is the impact? Whether or not a person is...

Benefits in kind of loans to directors and employees

by Jessica Garbett | Jun 4, 2015 | ACCA, business taxation, employer returns, personal taxatation

How do I calculate the benefit arising on a director or employee loan? What are the exemptions? Calculation Normal method is to take the average for the year: Take the average of the loan outstanding at 5 April at beginning of the year and 5 April at the end of the...

Income tax: statutory exemption for trivial benefits-in-kind

by Jessica Garbett | Apr 6, 2015 | ACCA, employer returns, expense payments, HMRC

From 6 April 2015 any employer who provides to their employees certain low value benefits-in-kind (BiKs) will, in some circumstances, become exempt from income tax. The exemption provides a number of conditions that must be met for a BiK to qualify as trivial,...

HMRC sets out payroll penalties approach

by Jessica Garbett | Feb 28, 2015 | ACCA, business taxation, employer returns, HMRC, penalties

Employers that have received an in-year late filing penalty for the period 6 October 2014 to 5 January 2015 and were three days late or less should appeal online. HMRC has published an announcement about in-year PAYE filing and payment penalties on GOV.UK. It explains...

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Trivial benefits

Benefits in kind loans to directors and employees

Scottish rate of income tax

Benefits in kind of loans to directors and employees

Income tax: statutory exemption for trivial benefits-in-kind

HMRC sets out payroll penalties approach

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