There are three webinars in June on Expenses and Benefits.
Bookkeepers may have to deal with the administration and reporting of expenses and benefits provided to employees, including directors. It is essential to keep up-to-date and ICB points you to three upcoming webinars:
Trivial Benefits
This webinar provides an overview of trivial benefits, including:
- The definition of a trivial benefit
- The conditions that must be met to be exempt from reporting to HMRC
- Examples of trivial benefits
- The employer / bookkeeper responsibilities, and
- The record keeping requirements
The webinar is running on 07 June 2024 1:45pm to 2:45pm and requires registration.
Travel
This webinar will cover the Income Tax treatment of:
- Travel and subsistence payments to employees
- Mileage payments for employees using their own vehicle
- Benchmark and bespoke scale rates, and
- The record keeping requirements
The webinar is running on 12 June 2024 3:45pm to 4:45pm and requires registration.
Social Functions and Parties
This webinar will cover the Income Tax and National Insurance rules where employers provide employees with annual social functions and parties. It covers:
• The qualifying conditions for the event to be exempt from tax and NI
• What to do if it's not exempt, and
• PAYE Settlement Agreements and how to apply
The webinar is running on two dates and requires registration:
1. 06 June 2024 1:45pm to 2:45pm
2. 12 June 2024 11:45am to 12:45pm
For Bookkeepers
ICB always recommends listening to HMRC’s webinars or registering to attend so that you are sent a link to the recording afterwards.
Further, for more information about a PAYE Settlement Agreement (PSA), see the following which may be helpful:
• Gov.UK guidance
• PSAs on HMRC’s YouTube channel
