Year End Tax Review 2007 Contents A word to the wise Employee pensions A matter of trust Pension policies Family tax planning Mr and Mrs Inheritance tax Employee cars and fuel Borrowings and tax Tax-free perks Two jobs = too much NIC? Give generously and save tax Children's savings? Company or trade? Capital gains Business tax Investment limits Should VAT be flat?

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: 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?