The following Employment Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Employers may provide employees either with a Christmas bonus or festive gift. Depending on the nature of the award there are varying tax, NIC and reporting requirements. Rather than there being specific legislation regarding Christmas bonuses or gifts, you should consider the underlying nature of the gift and the tax treatment of that item.
If an employer provides an employee with a cash bonus then the full amount is taxable. It should be treated as earnings under ITEPA 2003, s 62.
If something is readily convertible into cash then it is treated as cash for tax purposes, eg vouchers which can be readily converted are treated as cash. Cash vouchers, taxable under ITEPA 2003, s 81, are covered in the Vou
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Once a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the taxpayer.CorrectionHMRC has the right to amend the tax
IntroductionTax equalisation is widely used by multi-national companies or group moving employees from one country to another. It is not a statutory concept but is an arrangement between an employer and employee.The idea behind tax equalisation is that an employee accepting an assignment somewhere
Statutory sick pay (SSP)Statutory sick pay has its origins in the Social Security and Housing Benefits Act 1982, Part 1. Various amendments have been made to this Act to give us the SSP system we now operate.Temporary changes to SSP for coronavirus (COVID-19)New legislation has been put in place in
This note applies to transactions whilst the Great Britain was a member of the EU and during the transition period that ended on 31 December 2020. For information on Northern Ireland see the Northern Ireland topic. Triangulation is an EU simplification measure that was introduced in order to reduce