The DTI has announced that the new Companies Act will be delayed for implemetnation – possibly up to another month!
We are waiting for the regulations to understand better the detailed requirements around accounting and audits etc.
Will keep all clients informed as we receive further information.Continue Reading →
Just received notification that the fringe benefit tax on company vehicles will be increased from 1 March 2011, to 3.5% of the value of the vehicle, which includes VAT.
Where the cost includes an element for maintenance plans, the tax rate is 3.25%.
When calculating PAYE, 80% of the fringe benefit must be included in the employee’s remuneration.
This percentage is reduced to 20% if the employer is satisfied that at least 80% of the use of the motor vehicle for the tax year ...Continue Reading →