• 0116 246 4152
  • This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Mon - Fri - 9am - 5:30pm

Expenses and benefits: bank charges

IR35 Changes - Off-payroll working IR35 Changes - Off-payroll working

As an employer, reimbursing or paying your employees’ bank charges counts as earnings.

You will need to:

  • add the payments to your employees’ other earnings
  • deduct and pay PAYE tax and Class 1 National Insurance through payroll

What’s exempt

If your employees’ bank charges are your fault (eg because you paid their wages late) and you pay or reimburse them, this doesn’t count as earnings.

You won’t need to report anything to HM Revenue and Customs (HMRC) or pay any tax or National Insurance.


#watergates #accounts #cloudaccounting #xero #Tax #accounting #business-start-up #businessplanning #VAT #Tax #Payroll

Read 663 times Last modified on Thursday, 15 August 2019 09:20
© 2020 Watergates Ltd. All Rights Reserved.