There are a few changes coming in from 6th April 2016 so if you are an employer or a director of your own company you will find this useful.
I am pleased to say that there has been an uncharacteristic outbreak of common sense regarding business expenses from HMRC and that genuine business expenses reimbursed to employees will not have to be reported to them.
There has been a long standing “administrative” exemption for “trivial benefits in kind”, that is benefits provided to employees that are relatively low cost (HMRC’s favourite example has always been “a turkey at Christmas”) but it has always been a bit of a “fuzzy“ area (there was one notorious case when an overzealous inspector sought to tax employees on the free tea and coffee provided by the employer!). From April 2016, the exemption will be enshrined in law and “trivial benefits” more clearly defined.
Another change is that the Employment Allowance will increase from £2,000 to £3,000 from April but the allowance will no longer be available to companies with a single director who is the only employee. I think you agree that this makes sense too.
If you like the way we think, you will like the way we work.