Skip to content

Entrepreneurs Panel

Debbie Pierce
Laura Tenison
David Pollock
Julie Meyer
Michael Oliver
Steve Purdham
Richard O'Sullivan
Jeremy Roberts
Charlie Mullins
Jennie Johnson
Tony Caldeira
Brian Hay

Benefits sacrificed

HMRC has announced a new VAT policy on employee benefits following the decision last year of the European Court in the Astra Zeneca case in which the court held that the provision by Astra Zeneca of vouchers to its employees should be subject to VAT.

Accountants now expect VAT to be paid in a broader range of circumstances.

At the moment HMRC sees a distinction between a deduction from salary and a salary sacrifi ce: the former is a deduction from an employee’s pay made in return for a supply of goods or services by the employer, the latter is an arrangement where an employee opts to receive a service and forgoes part of their salary in return.

Usually with a salary sacrifi ce the worker would enter into a new contract or accept an amendment to their current contract to refl ect the arrangement but from 1 January 2012 HMRC expects employers to account for VAT on benefits provided to staff in return for a salary sacrifice.

  • Kathryn Parsons, co-founder of Decoded, started with little more than faith and determination, but four years later it’s grown into a global business. Ahead of her appearance at Accelerate 2015 in...

  • Author, writer and marketer Ryan Holiday on how entrepreneurs need to interpret failure.

  • Sue Vizard, business coach and author of Jump Start: The Start-up Book for Your Dream Business, looks at some of the questions solo entrepreneurs should ask themselves.

  • Ian Wright, founder and chief executive of NonExecutiveDirectors.com, is bringing together SMEs and NEDs - without the hefty recruitment fees.

  • Former professional golfer turned entrepreneur Colin Stevens has had a busy 18 months. The Better Bathrooms founder has increased turnover at the firm, secured a multi-million pound investment and...

Five Minutes With

Reputation is everything when it comes to running a successful business, according to Sacha Lord-Marchionne and Sam Kandel, founders of the Warehouse Project (WHP), a series of club nights featuring DJs from all over the world, which was launched back in 2006.

After travelling the world in a corporate role, Mike Wheeler decided that he had had enough of living out of a suitcase and so got a job running a small family business.