Employment Tax

Employees Working Abroad When your employees go to work abroad you need to think about their potential liability to income tax and national insurance, but be careful because there are different rules for each.

Read More

Enterprise Management Incentives The Enterprise Management Incentive (EMI) is a form of share option scheme, which can be used to provide tax-efficient targeted incentives to key employees or employee groups. Under the scheme the employee is granted the right to purchase shares in the employing company in the future (an option) at a price set at the date of grant (the exercise price). The employee gains when the value of the shares rises above the exercise price. The EMI is designed for use by smaller companies with assets of £30 million or less.

Read More

Minimising Tax on Company Cars The cost of being provided with a company car has reached extremely high levels and whether to make use of a company car for private purposes now requires careful consideration to minimise the tax costs. There are a number of factors that can be considered.

Read More

Pay Staff Tax Free - Staff Suggestion Scheme This is a great little scheme, which is actually a Revenue concession that is simple to apply and allows you to pay staff tax free.

Read More

PAYE Problems of Casual Workers HMRC regularly raises questions regarding casual workers and the payment of them (or not) through the PAYE system. Getting this wrong can cost a lot in the way of arrears of PAYE going back 6 years as well as interest and penalties.

Read More

Real Time Information (RTI) - A Practical Guide RTI came into effect from 6 April 2013 for most employers. RTI is mandatory! It is the biggest change to payroll since PAYE (Pay As You Earn) was introduced in 1944. It affects any business running a PAYE scheme for its employees and/or directors.

RTI is a new system for reporting pay, tax, National Insurance and other details to HMRC. It does not change how PAYE is calculated or payment dates, just how it is reported.

Read More

The Basics of PAYE PAYE stands for Pay As You Earn and is the system used by HMRC to collect income tax and national insurance from employees as well as the employer's national insurance. The employer makes the necessary deductions from the pay of the employee and pays them over to HMRC.

It is the employer's responsibility to make the correct deductions before paying the employee and this applies to all employees including directors of their own limited company.

Read More

Travel and Subsistence Expenses The tax treatment of travel and subsistence expenses can be surprisingly complicated.

The starting point is that employees are entitled to tax free payments for a business journey. The employer can either pay the employee tax free for the cost incurred or the employee can claim for tax relief on any shortfall through their tax return.

Read More

22 Billet Street
Taunton Somerset
TA1 3NG

T +44 (0) 1823 321177
E mail@paifang.co.uk