Folkes Worton Insight

HMRC employment status service

HMRC’s employment status service can be used to help ascertain if a worker should be classified as employed or self-employed for tax purposes in both the private and public sector. The service

Read more →

Folkes Worton Insight

The tax consequences of social events

The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below there is no requirement to report anything

Read more →

Folkes Worton Insight

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or

Read more →

Folkes Worton Insight

Employee Car Ownership Scheme (ECOS)

An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can

Read more →

Folkes Worton Insight

Chargeable benefits from cheap loans

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial

Read more →

Folkes Worton Insight

Maternity pay and leave

Employees that are pregnant are eligible to take up to 26 weeks of statutory maternity leave (known as ordinary maternity leave) plus an additional 26 weeks (known as additional maternity leave). This

Read more →