Year End Tax Review 2008 Contents New Year's resolutions Investment limits Borrowings and tax Family tax planning Mr and Mrs Give generously and save tax Jam today, or jam tomorrow? Tax payback - tax credits Bringing it back home Children's pensions? A matter of trust Children's savings? All change for gains Second homes Portfolio gains Capital ideas Tax-free perks Employee pensions and NIC Pension policies Employee cars and fuel Business tax Pay rise for the other half? Company or trade Two jobs = too much NIC Should VAT be flat? VAT and cash Inheritance tax One careful owner

Tax-free perks The taxman usually wants a slice of any "benefits in kind" provided by an employer to employees - particularly if they are directors of their own limited company. But there are quite a few benefits that are tax-free by law, and so if your employer buys them for you, that's cheaper than paying you salary (with tax) for you to buy them yourself. There is a long list of possibilities, but here is a selection: pension contributions of up to £225,000 (in 2007/08) childcare vouchers of up to £55pw one mobile telephone where the employer owns the phone vans where the private use is restricted to home-to-work travel loan of a bicycle for commuting routine health checks for employees or members of the household 40p per mile mileage allowance for business use of your own car Action Point! Can you benefit from these?