HMRC has issued updated guidance in respect of how the late-night taxi tax exemption should be interpreted.Jim Boylan and Jon Braid of Ernst & Young review the implications for employers
HMRC has introduced new guidance about the tax and National Insurance (NIC) treatment of taxis provided when employees have been working late. Under the new stringent guidelines there will be more situations where an employee's taxi trip home will be taxable if the cost is met by the employer.
Some companies face potential liabilities running into millions of pounds as a result of taxi expenses claimed in previous years. Many organisations have already received HMRC notices for unpaid income tax and NIC.
Until recently it was assumed by employers that if they took reasonable steps...
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HMRC has issued updated guidance in respect of how the late-night taxi tax exemption should be interpreted.Jim Boylan and Jon Braid of Ernst & Young review the implications for employers
HMRC has introduced new guidance about the tax and National Insurance (NIC) treatment of taxis provided when employees have been working late. Under the new stringent guidelines there will be more situations where an employee's taxi trip home will be taxable if the cost is met by the employer.
Some companies face potential liabilities running into millions of pounds as a result of taxi expenses claimed in previous years. Many organisations have already received HMRC notices for unpaid income tax and NIC.
Until recently it was assumed by employers that if they took reasonable steps...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
