Employee Benefits Deductions

Employee benefits deductions add further complication to NI and tax considerations for your company. It’s imperative to ensure that your company’s payroll system can deal effectively and accurately with employee benefits as regulations are in place to ensure that most employee benefits are now taxable.

Have a question?
Get A Free Quote
Have a question?
Get A Free Quote

Your partners in planning and success

For employees that meet the requirements to pay off their student loans, certain deductions have to be made to their payslip; these must be calculated correctly with every payment, which can be especially complicated with un-fixed hours. Certain statutory payments also have to be calculated on the payroll, and staying on top of this is very important. Professional payroll accountancy services can be of great assistance when calculating what you need to pay and what needs to be deducted, saving you both time and resources.

Advice For Employee Benefits Deductions

Although most employee benefits are now taxable, there remain many tax-planning opportunities such as employer pension contributions, share schemes, car parking facilities, uniforms and some childcare benefits. Employees’ business expenses may be repaid without any NI or tax; however, proper records must be maintained. The employee must not be making any profit from the transaction. Directors, too, can benefit from non-taxable benefits like employing a spouse, accepting payment in dividends and Entrepreneurs’ Relief which is available on capital gains. Though it’s possible to deal with employee benefits yourself, it can be time-consuming, difficult and stressful, taking you away from the important matter of running your business. Here are some of the advantages of outsourcing to us:

• A streamlined process thanks to our expertise in this area
• Increased efficiency for your company
• Improved accuracy – as experts, we can ensure that all forms are correctly completed

OUR PROMISE

We care for our clients. Building and maintaining fantastic relationships is what we do best, we will never treat you as a number which is what makes our approach so unique. The highest level of customer service combined with a keenness to listen and work together with our clients means that we leave a stream of happy clients in our wake every single day. Our services come with unlimited help and support provided at no extra cost throughout the year.That help and advice will all come courtesy of your own fully qualified and dedicated small business accountant.

Got a question?
No problem

Are you just looking for an answer to a general question? We always provide free advice to individuals and self employed persons. You can send us an email, call us or fill in the form. But you should be asking answers to general questions.

Business Startup

Company Formation

Starting a company is to embark on a long road to success. Talk to our accountants and see if we can suggest you a plan.

Self Employment Registration

You can register your self as self employed but is it the right decision. Call us to check if we can suggesnt you more tax efficient structure.

Partnership Registration

Let us talk about the objectives and outcomes of partnership. There are some tax efficient structures you may want to know about.

Business Planning

Buinsess plan is not just about some figures. Let our experienced accountants walk you through your bsuiness plan for next 10 years.

Frequently Asked Questions

Most frequent questions and answers

No we do not charge any fee for initial consultation. We will try to give you free guidance if its something you can do easily by yourself. We will only charge you if you appoint us to do some work for you. 

We are giving free advice on general questions and this is one way of paying back to our local community who cannot get through to tax man. But if your question is of specific nature, we will tell you about our fee.

You can certainly ask question about accounting but you should know that we cannot teach you accounting over the phone or online. If you are not familiar with book keeping or accounting, its best to hire an accountant?

If you are only after advice, we will make a decision after hearing question. It may take further investigation and we may have to look into your personal circumstances to answer your question.

Free advice for our clients

Our Services For Business

Client Testimonials

Our clients are our assets and we take every step to look after them and provide them the advice and support when ever they need. 

LET US KNOW IF YOU NEED HELP WITH SWITCHING ACCOUNTANT

It has never been easier to switch accountants. You just need to sign our engagement letter and we will do the rest.

Our Blog

Read our Latest Blog

Uptodate knowledge of tax and business sectors of UK, HMRC and EU written in language you can understand.

Maintaining your NIC contributions Covid-19

If a person already has 35 qualifying years or is likely to do so by the time that they reach state pension age, missing a year will not adversely affect their state pension entitlement. However, if they have less than 35 years (and will be able to reach the minimum 10 years needed for a reduced state pension by the time that they reach state pension age) making voluntary contributions can be worthwhile.

Read More ->

Selling the Buy to Let property at a loss

While any gain on the sale of a property that has been the taxpayer’s main residence throughout the period of ownership is covered by private residence relief, the flip side is that if the main residence is sold at a loss, the loss is not an allowable loss for capital gains tax purposes.

Read More ->