Tax Update – June 2022

In this month’s ‘Tax Update’ there’s information about Employee Benefits, the Employment Allowance, buying an Electric Car, Salary Sacrifices, Capital Gains Tax and Advisory Fuel Rates for Company Cars. Report Employee Benefits on Form P11D by 6th July P11D forms for reporting expenses and benefits in kind provided to employees … Continued

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What can an Employee working from home claim for?

Claiming for Working from Home

With more of us working from home, there’s some good news for employees from HMRC. Tax relief can now be claimed to cover some of the costs of working from home. An employer can pay an employee £312 every tax year (equivalent to £538 gross for a higher rate taxpayer). … Continued

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Folkes Worton Insight

On your e-bike

The Cycling Minister, Michael Ellis, has announced a number of changes to the Cycle to Work scheme in an announcement that was timed to coincide with Bike week. Bike week is an annual celebration to

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Folkes Worton Insight

Deadline to reduce taxable benefits

Employees can often reimburse their employers for benefits provided in order to lessen their taxable benefits and thereby reduce or avoid a tax charge. This is referred to in the legislation as

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Folkes Worton Insight

Maternity pay explained

How much maternity leave can you take? If you work as an employee and become pregnant you are eligible to take up to 52 weeks of statutory maternity leave. This is made up of 26 weeks of ordinary

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Folkes Worton Insight

Repay your employer for private fuel

Where an employee with a company car is provided with fuel for their own private use by their employers, the default position is that the employee is required to pay the car fuel benefit charge. The

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