Form P11Ds to include benefits provided by salary sacrifice

Employers need to report all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) or “salary sacrifice” arrangements, to HMRC on form P11D from 6 April 2018, unless they are registered to voluntarily payroll benefits. OpRAs are...

Tax advantage of EMI share option schemes lapses

HMRC have advised companies to consider delaying the grant of Enterprise Management Incentive (“EMI”) share options until fresh State Aid approval has been granted by the EU. As the UK Government were late in applying for an extension (12 months’ notice is required)...

Changes to termination payments

Care is always required when employees are made redundant or payments are made on the termination of employment. Not only are there employment law considerations, there are also important tax implications and this is an area where professional advice is strongly...

How to use Google Analytics effectively

Google Analytics is a free service which allows you to analyse visitors to your website. You could have thousands of visitors to your firm’s website every month, but those visitors don’t mean much if you don’t know anything about them. Google Analytics is one of the...

Taking a lodger? Don’t forget to claim “rent a room” relief

HMRC are carrying out a review of rent a room relief to discover whether the scheme, introduced back in 1992 provides the right incentives for the rental market. The current scheme exempts from tax, gross rents up to £7,500 where rooms within the taxpayer’s main...

Tax efficient extraction of profit from companies for 2018/19

The new tax year means that many directors of family companies will be considering the most tax efficient method of paying themselves. For many years accountants and tax advisors have suggested that director/shareholders should extract profit by paying themselves a...