directors or higher-paid employees


directors or higher-paid employees
Under UK tax law, a higher-paid employee is defined as one earning more than £8500 per annum. This amount, which has remained unaltered since it was set in 1979, includes remuneration together with benefits and reimbursed expenses. An employer must account to the Inland Revenue, on form P11D, for all benefits received by a higher-paid employee or director (for whom there is no earnings limit). These benefits are assessed at the cost to the employer, although special rules apply to certain benefits, e.g. company cars.

Accounting dictionary. 2014.

Look at other dictionaries:

  • directors or higher-paid employees — Under UK tax law, a higher paid employee is defined as one earning more than £8500 per annum. This amount, which has remained unaltered since it was set in 1979, includes remuneration together with benefits and reimbursed expenses. An employer… …   Big dictionary of business and management

  • Higher education in Quebec — is an education system that is unique from other provinces in Canada. Instead of entering university or college directly from high school, Quebec students enter post secondary studies at the collegiate level into institutions called Collège… …   Wikipedia

  • Directors' duties — are a series of statutory, common law and equitable obligations owed primarily by members of the board of directors to the corporation that employs them. It is a central part of corporate law and corporate governance. Directors duties are… …   Wikipedia

  • Higher education in British Columbia — is delivered by 26 publicly funded institutions that are composed of eleven universities, twelve colleges, and three institutes. This is in addition to three private universities, five private colleges, and six theological colleges. There are… …   Wikipedia

  • Board of directors — For other uses of trustee , trusty , and related terms, see Trustee (disambiguation). Board Room redirects here. For the Board Room member lounge, see Alaska Airlines. trustee in trust redirects here. A board of directors is a body of elected or… …   Wikipedia

  • director — A person appointed to carry out the day to day management of a company. A public company must have at least two directors, a private company at least one. The directors of a company, collectively known as the board of directors, usually act… …   Accounting dictionary

  • director — A person appointed to carry out the day to day management of a company. A public company must have at least two directors, a private company at least one. The directors of a company, collectively known as the board of directors, usually act… …   Big dictionary of business and management

  • benefits in kind — Benefits other than cash arising from employment. The UK tax legislation seeks to assess all earnings to tax, whether they be in the form of cash or in kind. The treatment of benefits depends on the level of total earnings, including the value of …   Accounting dictionary

  • benefits in kind — Benefits other than cash arising from employment. The UK tax legislation seeks to assess all earnings to tax, whether they be in the form of cash or in kind. The treatment of benefits depends on the level of total earnings, including the value of …   Big dictionary of business and management

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium