The following Employment Tax guidance note Produced by Tolley in association with Vince Ashall provides comprehensive and up to date tax information covering:
Once an agreement for bespoke rates has been granted, HMRC may review the basis on which expenses are monitored at a later date. This may be part of a general employer compliance check or as part of a specific review covering expenses.
The form and regularity of the checks required by HMRC will depend on factors such as:
the outcome of previous compliance checks, including cases where the employer has failed to manage an expenses regime effectively in the past
the employer’s CRM risk rating (if the employer is a large company)
the size and complexity of the workforce
uncertainty about whether employees will qualify for relief. For example, where the temporary workplace rules apply (see the Trave
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There are several sets of provisions in the Taxes Acts which relate to ‘close’ companies, most of which are anti-avoidance measures aiming to catch transactions between those companies affected and their owners, where there may otherwise be a tax advantage. Broadly speaking, most owner-managed or
‘Hold-over’ relief allows for the deferral of a gain that would otherwise arise in relation to a disposal. No capital gains tax (CGT) is due in respect of the disposal, but the base cost of the asset for the transferee for the purpose of a future disposal is reduced by an amount equal to the gain
This note offers guidance in respect of the administration of company tax returns. If a company or organisation is subject to corporation tax they will have to complete and file a company tax return for each accounting period. A company or organisation must, in the main, file a return even if they
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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