Employment Rewards – benefits and expenses experts

The ever-changing world of benefits and expenses can be difficult to keep on top of, with several key legislation changes in recent years – including:

  • Abolition of Dispensations and the need for robust expense record-keeping
  • Optional Remuneration Arrangements (salary sacrifice anti-avoidance)
  • Trivial Benefits (tax exemption for qualifying staff entertaining and small gifts)
  • Significant changes to the taxation of electric and hybrid company cars

As the marketplace for the best people becomes more competitive, businesses are increasingly looking to offer more to their staff, both to attract new and retain existing talent. So in addition to providing the standard salary and company pension scheme, what else can be provided as an optional incentive that rewards and more importantly engages your staff? Some rewards may be taxable (e.g. staff incentive schemes, health cashback plans or voucher schemes) and some may benefit from an exemption (e.g. trivial benefits, workplace parking, company mobiles).

We are here to help guide you and advise what the do’s and don’ts are and how to ensure that any taxable benefits or expenses are properly declared to HMRC. Recent examples of supporting our clients were two of our recent Covid-19 blogs, covering topics such as ‘How businesses can financially support their staff working remotely’ during Covid-19 lockdown, and ‘How to take steps to correctly stop company car benefits during lockdown.’

If you would like to know more about the range of employment rewards that are available to you, or have any queries about your own benefits and expenses provisions, contact support@garbutt-elliott.co.uk