Kraken Business

Expenses and benefits: the basics

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by

Team Kraken

in

If you provide your employees with anything other than pay, it may count as an expense or benefit. If so, you may have to report it to HM Revenue & Customs and pay tax and National Insurance contributions on it.

This guide explains the basics of the expenses and benefits system. It outlines what your obligations are, introduces the key forms for reporting expenses and benefits and provides links to sources of further information on specific topics in this area.

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Table of Contents

Introduction

What counts as an expense or benefit?

Expenses and benefits tax, National Insurance contributions and reporting at a glance

Form filling for expenses and benefits

Simplify your form filling – dispensations and PAYE Settlement Agreements

Reporting any expenses and benefits that you have payrolled

Deadlines for expenses and benefits forms and payments

CASE STUDY

Here’s how I manage my business expenses

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