Sinclair Day

June 28, 2017

Swapping salary for pension benefits

Employers and employees may have noticed that HMRC has clamped down on the tax and NIC benefits of some aspects of salary sacrifice schemes. The changes are being rolled out gradually from April 2017, and will affect a number of employees who have
June 28, 2017

Tax-free employee suggestion schemes

Do you have an employee suggestion scheme in place? There are still commercial and tax advantages to setting up such a arrangement. HMRC offers two tax-free award schemes that can be made available to employees: Encouragement awards - for good
June 28, 2017

Implementing a Cycle to Work Scheme

The Cycle to Work scheme was introduced in 1999 to help promote a healthy commute to work. The scheme allows employers to provide (technically loan) bicycles and cyclists’ safety equipment to employees as a tax-free benefit. Where the scheme
June 28, 2017

What is the best way to extract funds from your company?

Director shareholders are wont to ensure that they pay the lowest amount of tax and NIC consistent with their obligations under the relevant legislation. For many years, director shareholders have followed a high dividend, low salary extraction