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Non-Cash Employee Benefits

Employers can give employees non-cash benefits as part of their remuneration. The value of non-cash benefits provided to an employee is normally taxable, but there are tax-free non-cash benefits available.

Employee-Ownership Trusts

The Employee Ownership Trust (EOT) was introduced by the Coalition Government in 2014 with the aim of promoting employee ownership in the UK, similar to the John Lewis model. The 2014 rules provide an incentive for owners to sell a controlling stake in their business.

Salary Sacrifice Update

The UK tax treatment of Salary Sacrifice schemes changed from 6 April 2017, removing the advantage of using such schemes for many benefits. As we approach the end of the transition period on 5 April 2021, we look at the ways in which a salary sacrifice scheme can still work to your advantage.

Chancellor’s Summer Statement – SDLT Holiday, Hospitality VAT Cut and Staff Furlough Bonus

As the economy reopens, the Chancellor has announced temporary, targeted cuts in VAT and SDLT, along with a bonus for employers who rehire furloughed employees.

Car Subscription Services and the Company Car Charge

We discuss benefit in kind (BIK) and other business tax implications for company cars with car manufacturers moving to subscription-based models

Family Investment Companies

Companies are increasingly being used as a vehicle for family investments due to a low rate of tax (Corporation Tax is currently payable at just 19%) and the ability to use shares and directorship roles to keep control with certain family members, while allowing the whole family to benefit from income and capital growth.

Coronavirus Job Retention Scheme [Updated]

Further details have been announced about the new Coronavirus Job Retention Scheme, but the online service through which claims will be made is not yet available.

April 19 Loan Charge Repayment

The April 2019 loan charge was introduced to tackle tax avoidance using employer-funded third parties, but following an independent review, this measure has been significantly rolled back.

Changes To Off Payroll Working Rules Suspended

The introduction of changes to the UK off-payroll working rules for the private sector, which was set to take place on 6 April 2020, have been suspended for a year due to COVID-19, and will now be introduced from 6 April 2021.

Job Retention Scheme – Directors Update

The Government has clarified that company directors and office holders are eligible for furloughing under the COVID-19 Job Retention Scheme, but many small business owners are still receiving minimal assistance.