Benefits in kind (BiKs), which include non-cash perks like company cars and private medical insurance provided by employers, have traditionally been reported yearly. The new requirement, published today following the Budget, aims to simplify tax and national insurance payments, ensuring that employees...
Below we explain how to report savings income to HMRC proactively and we also reveal one of the top ways to put money aside tax free. Will you breach your personal savings allowance? “A basic-rate taxpayer can earn up to £1,000 in interest on savings without paying tax on it. This...