London Office
Tavistock House South,
Tavistock Square,
London, WC1H 9LG
t: 020 7388 2641
f: 020 7387 8969
e: th@rayneressex.com
St Albans Office
Faulkner House,
Victoria Street,
St Albans, Herts,
AL1 3SE
t: 01727 833222
f: 01727 864752
e: fh@rayneressex.com
PAYE/NIC and Benefits
Providing employees with perks and benefits could previously be used as a way of rewarding them. However, nowadays there is an increasing burden placed on benefits-in-kind and the already announced increases in National Insurance that will cause the Class 1A liability on the employer to rise has meant that certain benefits are not as attractive as they once were. Indeed, some benefits may prove to be tax inefficient and a careful review should take place to ensure that alternative means of reward and remuneration are not being overlooked.
Additionally, there is growing legislation and burden being place upon the employer to get everything correct and filed in time, and this is being followed up by increased compliance visits.
In order to ensure you are remunerating your employees in the most tax efficient way and meeting with your obligations as an employer please feel free to e-mail our St Albans based tax manager Pat Strods ps@rayneressex.com or call Pat at our St Albans office on 01727 833222 to discuss your current practices in more detail.