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Finance
Does it pay to provide benefits in kind?
  1. Andy Moore

    Andy Moore is a partner in the Moore Scarrott Partnership, based in Wellington, Somerset, providing specialist accounting, taxation and practice management advice to the veterinary profession.

Abstract

TRADITIONALLY, veterinary assistants have typically been provided with a range of benefits in kind - for example, a company car, living accommodation, professional subscriptions, and funding for CPD costs and time. These have always been perceived by practices as being a tax-efficient way of remunerating staff. But given recent developments, is this still the case? In this article, Andy Moore outlines the current tax situation with regard to a range of benefits and goes on to consider whether the provision of a benefits package remains effective - from the point of view of both the practice and its staff.

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