Where a company car is “unavailable” for private use for 30 or more consecutive days the benefit is proportionately reduced.
Reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively and necessarily in the performance of the employee’s duties.
If employees are to avoid paying fuel benefit they need to fully reimburse their employer for the cost of private fuel by 6 July 2021 for the 2020/21 tax year.
The Chancellor recently announced that the temporary increase in the Annual Investment Allowance (AIA) for expenditure on plant and machinery has been extended to 1 January 2022.
Your work van may now be taxed as a motor car for P11d benefits in kind purposes. Find out which company vans are impacted by the Court of Appeals ruling.
Thinking about treating your employees to a Christmas party or a festive hamper this holiday season? Save yourself some tax by sticking to the guidelines set by HMRC for tax free gifts and trivial benefits.