Make the most of tax-free trivial benefits
The trivial benefits in kind (BiK) exemption applies to small non-cash benefits, for example a bottle of wine or a bouquet of flowers, given occasionally to employees.
Although
Tax treatment of incentive award schemes
Companies 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 various forms
Exempt beneficial employee loans
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any,
Are you taking advantage of trivial benefits?
The trivial benefits in kind (BiK) exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally to employees. By taking advantage
Check if you can claim working from home expenses
If you are an employee who is working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work.
Note that if an employee is
Mobile phone exempt costs
When an employee incurs costs for the provision of mobile phones to employees it is important to understand the correct tax treatment of these expenses. This includes costs for
Changing the terms of a salary sacrifice arrangement
A salary sacrifice arrangement is effectively an agreement to reduce an employee’s entitlement to cash pay, usually in return for a non-cash benefit. This can include items such as
Exempt beneficial loans
An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any,
Annual party benefits
The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below then there is no
Tax-free gifts for Christmas
After a very difficult 2020, the traditional Christmas break is almost with us. If you are an employer and looking to give your employees a small token of appreciation for