Many companies provide benefits to incentivise and retain their best employees, but often don’t realise that these benefits can have serious tax consequences.

In today’s marketplace, employee benefits have become a necessity for many businesses, helping them to keep their best employees happy. We’ll help you navigate through the potential tax problems and provide you with easy-to-follow solutions.

Employee incentives

Providing your employees with benefits and incentives can result in significant tax and National Insurance consequences. We’ll look at your options and provide you with a tax efficient scheme, so you can retain key employees without a large tax burden.

We can also advise on many other employment incentives, such as:

  • Company car provision
  • Cycle-to-work schemes
  • Childcare
  • Share schemes
  • Loans to employees

Benefits in kind

Tax legislation for providing non-cash benefits in kind, such as a company car or private medical insurance, can be complicated, leaving you and your employees paying more income tax and National Insurance.

We can assist with the day-to-day compliance, either by completing the P11D forms or payrolling the benefits in kind, and carry out a detailed review to make sure you’re meeting all your necessary obligations.

Employment status rules

The Government is continually cracking down on ‘disguised employment’, concerning workers who effectively work full-time for a business but receive payments via an intermediary – for example, their own limited company – rather than being paid as an employee.

We can provide guidance on employment status and can carry out contract reviews to provide you with an accurate overview of your employment status and tax position.

How else can we help?

Our tax experts can offer advice and assistance in a wide variety of specialist areas. Click on the icons below to find out more.

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