“Unavailable” car benefit reduced
Where a company car is “unavailable” for private use for 30 or more consecutive days the benefit is proportionately reduced.
Not all benefits need to be reported on form P11D
Reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively and necessarily in the performance of the employee’s duties.
Reimburse private fuel by 6 July to avoid fuel benefit
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.
£1 million annual investment allowance extended
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.
Company vans ruled motor cars for tax
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.
Christmas and the trivial benefits exemption
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.