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  • 1,500+ Business Documents - Employee homeworking expenses policy
    Employee homeworking expenses policyThe increasing tendency for individuals to work from home raises the question of which home-related costs can be reimbursed tax free by an employer. So you'll need a company policy making it clear to your employees which expenses come with a tax bill. Working from homeThere has been a very large increase in the number of employees who work from home. A question often asked by employers is how the additional expenses the employee will incur as a result of working from home...
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  • 1,500+ Business Documents - Spouse's job description
    Spouse's job descriptionA business can pay a salary to the spouse or other family member of its owner if they work for it. Having a formal job description will help justify the amount paid if HMRC decides to challenge it.spouse's payThe wages paid to a spouse will be tax deductible for the business if HMRC is happy that they are paid at a commercial rate for the work performed. First assess exactly what your partner does for the business. Use our example of a Spouse's Job Description to help you record their...
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  • 1,500+ Business Documents - Settlement agreement
    Settlement agreementWhen you want to prevent an employee from issuing proceedings in relation to the infringement of their statutory employment rights on termination of their employment, consider going down the settlement agreement route. This is an alternative to going through time-consuming dismissal procedures. In addition, it can also be used to settle serious employee disputes, such as allegations of constructive dismissal or unlawful discrimination.Negotiated terminationsSometimes, it will become necessary...
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  • 1,500+ Business Documents - Other benefits in kind clause
    Other benefits in kind clauseOur benefits in kind clause specifically covers private medical and permanent health insurance, pension schemes and life assurance, as these are the most common benefits after company cars. However, you can also include any other benefits that you provide for your employees.Insurance termsWith private medical and permanent health insurance and life assurance, as they are all insured benefits it's the insurance company that will take the decision on whether the employee (or any beneficiaries)...
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  • 1,500+ Business Documents - Employee pool car agreement
    Employee pool car agreementBanning private use is essential for a car to be considered a pool car by HMRC. A verbal ban may work but it's more sensible to require the employee to sign an agreement that specifically states that the car is not to be used for private use. This will also help convince HMRC that you operate a genuine pool car arrangement. Terms of useVerbally banning employees from using pool cars for private journeys was good enough for one VAT tribunal; however, we recommend that you'll be on much...
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  • 1,500+ Business Documents - Agreement to sever a joint tenancy
    Agreement to sever joint tenancy Owning a property as joint beneficial owners means each joint owner is taxed on an equal share of income or gains derived from the property. However, if one of them dies, their share automatically passes to the others before any will comes into effect. Severing the joint tenancy and instead owning the property as tenants-in-common means that each owner is entitled to a specific share of the property which can be bequeathed to anyone they wish. Automatic transferMost couples that...
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  • 1,500+ Business Documents - IHT gift from surplus income letter
    IHT gift from surplus income letterThere is an inheritance tax exemption for monetary gifts made out of your surplus income. To demonstrate that a gift has been made out of surplus income you should send a letter with each gift you make. Write a letterKeep this IHT Gift from Surplus Income Letter with your will to help your executors when dealing with your estate (see Inheritance Tax Manual IHTM14242). 
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  • 1,500+ Business Documents - Company car lump sum contribution agreement
    Company car lump sum contribution agreementIf you wish an employee to contribute towards the purchase price of a company car, it's a good idea to formalise the arrangement. This will reduce the taxable benefit in kind for the car.Capital contributionA capital contribution can be made by a director or employee towards the cost of either the car itself or any of the accessories which are taken into account in determining its price for taxable benefit purposes. The capital contribution is deducted from the list...
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  • 1,500+ Business Documents - Company car running costs contribution agreement
    Company car running cost contribution agreementIf an employee or director makes a monthly contribution towards the company car, this can reduce the taxable benefit providing it can be shown that the contribution is required and is in respect of private use of the car.Monthly company car contirbutionsIt's common practice under many company car schemes for employees to have to make monthly contributions to their employer for use of the car. Providing the agreement is structured correctly, these contributions can...
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  • 1,500+ Business Documents - Employer/employee company car fuel agreement
    Employer/employee company car fuel agreementTo avoid a tax charge arising where you provide an employee with fuel for their company car, have an agreement requiring them to reimburse the cost.Fuel benefit chargeIn addition to the company car benefit, a director or employee who is provided with a company car may be liable to a fuel benefit charge. This fuel benefit will arise on any free or subsidised fuel provided for private journeys.How much is it?When a company pays for fuel used in private journeys whether...
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