The following Employment Tax guidance note Produced by Tolley in association with Philip Rutherford provides comprehensive and up to date tax information covering:
Employers may provide employees with assistance towards meeting the costs of public transport which the employee uses for commuting to and from their permanent place of work. The provision of the majority of these benefits have tax, NIC and reporting requirements which are discussed in turn below.
One of the most common forms of financial assistance that an employer provides to an employee is in relation to season tickets. There are a number of ways in which this assistance is provided and the tax, NIC and reporting consequences change with each of these.
If an employer provides a loan to an employee to purchase a season ticket, there are no tax or NIC consequences, and no reporting obligations as long as the outstanding value of all loans to t
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The substantial shareholding exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. Conversely, if losses are generated by the disposal and the SSE conditions are
IntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeWithholding tax may be reduced under double tax treaties (DTT) or European directives, both of which may be subject to making a formal claim.This guidance note outlines the rules for UK withholding tax, and
This guidance note explains how to calculate the amount of tax that arises under the lifetime charge. In general terms the lifetime charge will apply to individuals who transfer property into a trust that is subject to the relevant property regime. See the Chargeable transfers and Occasions of
Class 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met before Class 1A NIC is
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