NEW Guides & Publications17 Oct 2024
Alliotts Focus – Winter 2024
In this edition of Alliotts Focus we look at; Self-assessment registration, landlord legislation changes, dividend taxation, and voluntary business liquidations
Guides & Publications
Making the most of fringe benefits
More than just a salary, the real value of fringe benefits.
Although the rates of national insurance contributions (NICs) for 2023/24 are back down to what they were for 2021/22, fringe benefits still have a definite tax advantage when compared to conventional salary. Even if there is not much, if anything, in the way of income tax saving, directors and employees can avoid NICs. Certain tax advantaged fringe benefits will also mean no, or little, NICs for the employer, with these types of benefit particularly suited to a salary sacrifice arrangement.