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Trivial benefit traps – Contractual obligations

Trivial benefit traps – Contractual obligations The trivial benefits exemption allows employers to provide employees with low cost benefits free of tax and National Insurance and any reporting obligations. For the purposes of the exemption, a benefit is trivial if the cost per head is not more than £50. Where trivial benefits are provided to …

Reporting low emission vehicles – Changes from April 2020

Reporting low emission vehicles – Changes from April 2020 From 6 April 2020, new appropriate percentage bands – and new lower charges for low emissions cars – will apply for company car tax purposes. From the same date, the way in which carbon dioxide emissions are measured is also changing. This means that in order …

Should I outsource my R&D activity or keep it in-house?

Should I outsource my R&D activity of keep it in-house? If you’re considering whether to bring some or all of your R&D project work inhouse versus outsourcing it, you’ll want to feel confident that you are making the right decision for your business operationally, but also to maximise your R&D claim.  Perhaps you’re about to …

Spring Statement Update 2022

Spring Statement Update 2022 As you may have seen on the news, the Chancellor announced his Tax Plan on 23rd March. Here is a quick overview of the key changes which may apply personally and/or to your business(es): Employing staff and taking salary from your business: · The threshold for paying National Insurance Contributions (“NIC”) …