1.25% increase in NICs to fund health and social care
The Prime Minister announced on 7th September that the government will introduce a new 1.25% Levy to provide an extra £12bn a year to support the NHS and social care.
“Unavailable” car benefit reduced
Where a company car is “unavailable” for private use for 30 or more consecutive days the benefit is proportionately reduced.
Pension contributions tax efficient for both employee & employer
Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached.
Tax free childcare account subsidises summer camp costs
If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account.
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.