Grant Thornton: Elevate - for business leaders

Is paying VAT on benefits worth the salary sacrifice?

Wednesday, August 24, 2011 | Posted by: Graham Brearley
Categories: Business advice, Tax, Thought Leadership | Tags: tax, HMRC, income tax, VAT, NIC, salary sacrifice, National Insurance, national insurance contributions, childcare vouchers, AstraZeneca, Cycle to Work, employee benefits, VAT liability, vouchers, European Court, ECJ

That’s the question employers will be weighing up following the recent AstraZeneca (AZ) case ruling that raises the possibility of substantial VAT liabilities on employee benefits, such as retail vouchers, meals and Cycle to Work Scheme (CWS) rentals. How will the balance of payments fall? Senior VAT Manager Graham Brearley reviews the issue and asks: ‘Is this the end for salary sacrifice arrangements?’

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Big tax changes for small businesses

Wednesday, May 11, 2011 | Posted by: Francesca Lagerberg
Categories: Business advice | Tags: tax, income tax, budget, NIC, Office for Tax Simplification, OTS, National Insurance, allowances, policy, IR35, integration, contractors, intermediaries, small business review, merging income tax and NIC, SME

Small business taxation is facing major reform with the potential merging of income tax and national insurance contributions, new approaches to taxing very small, unincorporated businesses, and a review of IR35 rules, says Francesca Lagerberg, Head of Tax at Grant Thornton.

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Compare the tax reliefs.com as the new OTS completes its review

Tuesday, April 12, 2011 | Posted by: Francesca Lagerberg
Categories: Business advice, Tax | Tags: tax, income tax, budget, NIC, legislation, tax policy, exemptions, OTS, budget2011, venture capital trusts, tax reliefs, national insurance contributions, allowances, enterprise investment schemes, Office of Tax Simplification, entrepreneurs’ relief

In his 2011 budget speech, Chancellor George Osborne announced several changes to the UK tax regime following the advice and recommendation of the Office of Tax Simplification (OTS). This is the first view we have of the new department’s effectiveness – has it made tax simpler?

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