Tax on incentive rewards

by | Sep 21, 2023 | Employee Benefits | 0 comments

Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or other gifts. Where an employer meets the tax payable on a non-cash...

Calculate tax on company cars

by | Sep 14, 2023 | Employee Benefits | 0 comments

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The charge is determined by reference to the CO2 rating of the...

Tax on trivial benefits

by | Sep 7, 2023 | Employee Benefits | 0 comments

There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other BiK classed as 'trivial' that falls within the exemption. By taking...

On your bike tax-free

by | Aug 24, 2023 | Employee Benefits | 0 comments

The Cycle to Work scheme was introduced over 20 years ago to help promote the use of environmentally friendly modes of transport. The scheme allows employers to provide bicycles and cyclists’ safety equipment to employees as a tax-free benefit. The scheme...

Tax exempt private medical costs

by | Jun 15, 2023 | Employee Benefits | 0 comments

There is no requirement for employers to pay tax and National Insurance on certain health benefits covered by tax concessions or exemptions. For example, there is no requirement to report employees’ medical or dental treatment or insurance if they are a part of...