Author: Helen
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Payrolling Benefits in Kind
What is a taxable benefit? Taxable benefits – also known as benefits-in-kind (BIK) – are perks or expenses provided to employees that aren’t part of their salary but still hold monetary value. Common examples include company cars, private medical insurance, gym memberships, and interest-free loans from employers. Historically, these benefits were reported via a P11D…
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Tax Relief on Pension Contributions explained
Most people get a government top-up to their pension savings in the form of tax relief on their contributions. The way it is given depends on what kind of pension scheme you are in. Introduction When you save into a pension, the government usually gives you a top-up as a way of encouraging you to…
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Changes to Companies House filing: What you need to know
Recent changes to UK company law contained under the Economic Crime and Corporate Transparency Act 2023 (ECCTA), is aimed to provide greater transparency around who runs and controls UK Companies and to ptrevent the abuse of corporate structures.As part of this, there are changes to filing with Companies House, including the requirement for ID verification.…
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Making Tax Digital for Income Tax
HMRC’s ‘Making Tax Digital’ programme is a key element of HMRC’s digital transformation plans. This flagship project, first announced in 2015, is being phased in over a number of years. Making Tax Digital (MTD) for VAT was the first element of the programme to be rolled out, beginning in April 2019. Making Tax Digital (MTD)…