Thanks for the information. Very useful. I think i will try and push forward the employee paying for all mileage and claiming back the business fuel advisory rates in that case.
Sponsorship costs are allowable in arriving at the profits except where they are:
· Capital expenditure (e.g, a contribution to a permanent exhibition provides an enduring benefit, or the sponsor buys capital assets such as racehorses or cars). · Expenditure not made wholly and exclusively for business purposes, or· Expenditure which is specifically disallowed (such as any entertaining expenditure).
Would this be classed as a capital asset with an enduring benefit???
My situation is simular where my company pays for all the teams to go out for lunch once every 6 months.
Say there are 7 teams in the office and every person gets to go out at some point in that 6 months, say once a new employee starts, or just for team building.
Would it be as above and taxable on the employees?
My answers
Why does HMRC site state Director's do need to?
http://www.hmrc.gov.uk/sa/need-tax-return.htm
You must complete a return if you're any of the following:
a company director (unless you're a director of a non-profit organisation, for example a charity, and don't receive any payments or benefits)
Thanks for the information. Very useful. I think i will try and push forward the employee paying for all mileage and claiming back the business fuel advisory rates in that case.
Say no..
Saynoto0870 is a good site or next time you phone HMRC ask them for their number for phoning from abroad which will be a local number.
capital?
Sponsorship costs are allowable in arriving at the profits except where they are:
· Capital expenditure (e.g, a contribution to a permanent exhibition provides an enduring benefit, or the sponsor buys capital assets such as racehorses or cars). · Expenditure not made wholly and exclusively for business purposes, or· Expenditure which is specifically disallowed (such as any entertaining expenditure).
Would this be classed as a capital asset with an enduring benefit???
Old rate
The amount due in July 2011 is for the 2010/11 Class1A so will be the old rate 12.8%.
In July 2012 any payments will be based on 13.8%.
Same situation
My situation is simular where my company pays for all the teams to go out for lunch once every 6 months.
Say there are 7 teams in the office and every person gets to go out at some point in that 6 months, say once a new employee starts, or just for team building.
Would it be as above and taxable on the employees?
P11D?
Will is still go on the P11D though box N or just leave it off completely?