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Tax-free party!

Tax-free party!

An annual function or party for employees is tax exempt, provided the cost isn’t over £150 per head.  The amount paid by the employer is tax deductible, and employees aren’t taxed on the benefit they’ve received in going to the party. To calculate the cost per head,...
Give yourself a (tax) free gift

Give yourself a (tax) free gift

There is an exemption from tax and National Insurance for benefits with a value up to £50 each provided to employees and directors. There is no limit to the number of benefits which can be given to an employee, but there is a limit of £300 per year for directors or...
There is such a thing as a (tax) free lunch

There is such a thing as a (tax) free lunch

There is no tax charge for the provision of meals for directors or employees, provided the meal is provided either in a canteen or on the employer’s premises, it’s on a reasonable scale, and it’s available to all employees. So, does that mean family companies without...
Travel for Directors

Travel for Directors

The cost of ordinary commuting is not tax deductible. Ordinary commuting is a journey made to or from home (or any other non-workplace) to a permanent workplace. A “permanent workplace” is one where either the whole duration of the employment contract is...
How to pay a dividend

How to pay a dividend

Loading… Use the form above to create a dividend voucher. When you press submit, the voucher will be emailed to you – check your spam if you can’t see it. A company can pay dividends to shareholders from its accumulated after-tax profits. These can...
Director’s Salary

Director’s Salary

There is no need to register for PAYE if no employees (including directors) are paid above the Lower Earnings Limit for National Insurance, get expenses and benefits, have another job, or have a pension. The LEL is £116 per week, or £6,032 per year in 2018/19. If a...