Year End Tax Review 2010/2011


Lead articles

Looking forward

This year, next year

Rate of change

Pension merry-go-round


Too much NIC

NIC and pensions

Company cars

Tax-free benefits

Childcare vouchers

Business - General

Time to incorporate?

Associated or not?

His and hers

Family bonus

Profit and loss

Show me the money

Can't pay, won't pay?

Turning back the clock

Business - VAT

Standard VAT or flat VAT?

VAT's up again

All Europeans now

A good start for VAT

Happy returns?


Top-up savings

Rainy day money

Capital Gains

Gains favoured

Splitting gains

A place in the country

Holiday lets reprieved


Family fortunes

Where there's a Will

Credits and debits

Benefit going

Piggy banks

Still trustworthy?


Penalty shoot-out

Going online

Paperwork, paperwork

Pay tax later

Opportunity knocks again


Give and save

Non-Domiciled People

Home and away


Interesting times

Tax-free benefits

The taxman usually wants a slice of any "benefits in kind" provided by an employer to employees - particularly if they are directors of their own limited company. But there are quite a few benefits that are tax-free by law, and so if your employer buys them for you, that's cheaper than paying you salary (with tax) for you to buy them yourself. There is a long list of possibilities, but here is a selection:

  • pension contributions up to £50,000 (in 2011/12)

  • childcare vouchers of up to £55pw (for basic rate employees lower amounts for higher rate taxpayers);

  • one mobile telephone where the employer owns the phone;

  • vans where the private use is restricted to home-to-work travel;

  • loan of a bicycle for commuting;

  • health checks for employees or members of the household;

  • 40p per mile mileage allowance for business use of your own car;

  • annual party costing up to £150 per person attending.

Action Point!
Can you benefit from these?