Are you making the most of tax free benefits?

I want you

Have you considered giving your employees or yourself benefits in kind that are tax free, here are some to choose from:

  1. Pensions – Up to £40k can be paid in to your pension scheme by your employer (2015/16)  and you can use carry forward to pay in even more
  2. Childcare – Up to £55 per week but check the rules to makesure your childcare complies (HMRC Leaflet IR115)
  3. Mobile Phone – One per employee
  4. Lunch – Tax Free Lunch Blog
  5. Cycle Schemes – Cycle to Work Blog
  6. Fitness – Fitness Blog
  7. Parties and Gifts – Christmas Blog
  8. Parking – Parking Blog
  9. Business Mileage Allowance – 45p for the first 10,000 miles then 25p
  10. Long Service Award – A bit restrictive as you need 20 years service, the tax free amount is £50 x the number of years
  11. Eye Tests and Spectacles – The Eye Test must be needed under the Health & Safety at Work Act
  12. Suggestion Schemes – Suggestion Scheme Blog
  13. Insurance such and Death in Service and Income Protection – Medical Insurance Blog
  14. Travel Expenses – Travel Blog
  15. Working From Home – Working from Home Blog
  16. Clothing – Tax Allowances
  17. Trivial Benefits – Trivial Blog
  18. Training – Training and Salary Sacrifice CPD
  19. Relocation Costs
  20. IPad or Laptop – IPad used for Business
  21. Rent a Room to another employee – Rent a room blog

steve@bicknells.net

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