Employment Tax

Employees

Generally, as an employee, the deductions from your gross salary include the deductions of tax via PAYE code, Employee’s National Insurance, Student Loan and Pension Contributions. Sometimes, however, employees are required to submit a self-assessment tax return because either they receive taxable benefits or their income is at a threshold where a tax return is required.

Matters become more complex if you are an employee of a UK company working abroad or an employee from another country seconded to the UK. Sometimes, employers issue employment-related securities like shares to their employees in which case you may immediately become liable to the UK tax.
Whether you need bespoke advice related to your PAYE code or need help with filing a complex self-assessment tax return, our qualified and expert tax advisers are a phone call away to help you.

Employers

As an employer the biggest challenge sometimes is to retain the staff and to do so, you may decide to give performance-related bonuses, shares in your company, or offer to contribute towards employee’s personal pension and provide other benefits like a company car, gym membership, private medical insurance, vouchers and other perks.

All the above come with rigorous tax and national insurance planning and reporting requirements.

Registering your company for a shares scheme, agreeing on values with HMRC, arranging and managing PAYE Settlement Agreements or a simple RTI submission for employee’s payroll, we are here to help. Please get in touch to book a free 20-minute discovery call with one of our tax advisors.

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