Taxable value of childcare vouchers.
The law on this seems clear at first sight: The taxable value of vouchers is the cost to the employer.
However I have read in Pay Magazine that some Revenue Inspectors assume the administration fee is part of the cost of paying the employee, rather than being a cost of teh specific benefit. This approach would lead to the employee being taxed only on the face value of the voucher.
I think IR statement of practice 6/85 muddies the waters as it says:
"The expenses which should be included in the measure of liability are those which contribute more or less directly to the benefit received by the employee".
However that SP6/85 also says that the employer must include the cost of buying the services.
- RTI Fees 293
- Where's our 10%? 268
- Driving sales growth 213
- CIS late registration 208
- Cost of converting property - who pays? 204
- EIS 202
- Accounting for gift vouchers - paid for and donated 192
- Break up basis accounting 187
- Accounts production software for business SSC 186
- Best structure 184
- High Income Child Benefit Tax Charge Error? 176
- iQor recovering HMRC debts again 154
- Is commission on sales always vatable? 137
- Integrate accounts software with infusionsoft 135
- SEIS and DeMinimus Aid 133
- Property does not qualify for FHL, what is allowable? 119
- Employers NIC holiday paper application form 114
- Child benefit 111
- National Insurance when leaving UK 106
- Trusts - loan to beneficiary 106