Last year many businesses put on a “virtual” Christmas party event and HMRC agreed that would be acceptable in order for there to be no taxable benefit for the employees involved, but this year is the return of the proper Christmas party!
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.