Employment Income

Many employees do not realise that although employed they are still entitled to claim HMRC statutory costs.

An example of this could be –

An employer pays your mileage at a rate of 10p per mile as a fixed payment for any business mileage you conduct in your own car. HMRC allows you to claim 40p per mile which therefore means that if unclaimed you will have missed out on the additional mileage allowance you could claim.

Another example –

Pension contributions made by you as the employee. These are paid and receive a standard basic rate tax credit of 20%. If you are a higher rate taxpayer and do nothing you will effectively have lost the further tax you could reclaim at 20%

There are also a huge number of employee benefits that you may be receiving and sometimes it is hard for your employer to offer direct advice on the tax consequences.

• Tax free benefits
• Expenses allowable against employment income
• Car benefit rules impact on employment
• Personal pension contribution
• National Insurance and contract out
• Payroll services

In the event you find that you have a query relating to your overall tax or if you think you have overpaid in the past please do let us know and we can advise the best course of action.

We are so confident we can make tax savings for you and your business, we are pleased to offer a 'no strings' review of your current arrangements without charge