Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept…
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Updated Guidance on Coronavirus Job Retention Scheme
The government issued updated and more detailed guidance on the Coronavirus Job Retention Scheme on 4 April 2020. The full guidance can be accessed here https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Some of the important clarification relate to the following: Office Holders and Company Directors 'As office holders, salaried company directors are eligible to be furloughed and receive support through this…
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A new look to benefits in kind regime?
HMRC are currently consulting with interested parties (the accounting profession and associated professional organisations) to re-vamp the UK’s system for taxing employee benefit in kind and expenses. Changes are planned to simplify this process in accordance with recommendations made by the Office of Tax Simplification. Consultations commenced 18 June 2014 and due to be completed 9 September 2014. The four Continue Reading
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Business use of employees\’ cars
Many employers pay their employees a monthly car allowance to compensate them for the business use of their private vehicles. In most cases this car allowance is treated as remuneration and is subject to PAYE and National Insurance deductions. Additionally, employers may also pay a nominal amount per mile as a contribution to fuel costs. Employers are entitled to pay Continue Reading
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