Question: In planning for a remuneration package, one should structure the package with a lower cash remuneration and a higher benefit-in-kind, to suit the employee (net

In planning for a remuneration package, one should structure the package with a lower cash remuneration and a higher benefit-in-kind, to suit the employee (net home pay would be the criterion) so that the tax payable by employees would be much lower. 



Explain two  benefits-in kind than can be used in tax planning schemes for employees?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Benefitinkind BIK refers to any noncash benefit provided by an employer to an employee in addition t... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...

Q:

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Q:

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...

Q:

There are two problems due this week (each worth 35 points) as follows. Problem 1.6 (page 20) In comprehensive paragraphs, answerrequirements a to e. You will have 5 paragraphs total of four to five...

Q:

Hello please refer to part 4 from the question paper I have attached the past student work for your reference just have to follow the format if you feel comfortable with I have attached the necessary...

Q:

Read Accounting Headline 7.9 and, adopting a Positive Accounting Theory perspective, consider the following issues: a)If a new accounting standard impacts on profits, should this impact on the value...

Q:

Hello please refer to part 4 from the question paper I have attached the past student work for your reference just have to follow the format if you feel comfortable with I have attached the necessary...

Q:

Hello please refer to part 4 from the question paper I have attached the past student work for your reference just have to follow the format if you feel comfortable with I have attached the necessary...

Q:

Hello please refer to part 4 from the question paper I have attached the past student work for your reference just have to follow the format if you feel comfortable with I have attached the necessary...

Q:

Case Study: Lebua: A Thai Luxury Hotel's Post-Pandemic Dilemmas Jones Mathew, Sujata Khandai, Sandeep Puri Product Number: W25819 Publication Date: 2022-07-20 Product Type: Case Source: Ivey 1)...

Q:

What is the difference between public and private law?

Q:

Orange Corporation manufacturers orange products. During the year, Orange Corporation had the following costs: - Direct materials purchased $82,000 - Direct materials used $137,000 - Factory hourly...

Q:

In the following exer Compute definite intergal: intergral 1 / 2 and 0 ( tan ( sin ^ - 1 T ) / square root ( 1 - t ^ 2 )

Q:

Find the audited financial statements of five major U.S. corporations, each in a different operating industry (e.g., manufacturing, energy, financial services, health care). a. Compute the total...

Q:

The motor M is used to hoist the 12,000-lb stadium panel (centroidal radius of gyration k = 6.5 ft) into position by pivoting the panel about its corner A. If the motor is capable of producing 5000...

Q:

An irrigation pump takes water from a river at 10C, 100 kPa and pumps it up to an open canal, where it flows out 100 m higher at 10C. The pipe diameter in and out of the pump is 0.1 m, and the motor...

Q:

At January 1, 2021, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $25,000 beginning January 1,...

Q:

Trenton Travel Agency purchased land for $90,000 cash on December 10, 2017. At December 31, 2017, the lands value has increased to $93,000. What amount should be reported for land on Trentons balance...

Q:

A company that sells lawn care service packages rewards its employees based on the number of packages they sell each month. The company provides prizes such as gift cards and event tickets for...

Q:

For each of the following, decide whether the proper inference is a prediction interval for y or a confidence interval for E (y): a. A jeweler wants to predict the selling price of a diamond stone on...

Q:

Some power plants are located near rivers or oceans so that the available water can be used to cool the condensers. Suppose that, as part of an environmental impact study, a power company wants to...

Q:

Refer to The Sport Journal (Winter 2004) study comparing the attitudes of Division I, Division II, and Division III college tennis coaches towards team Web sites as recruiting tools, presented in...

Q:

True or False: When Congress changes the corporate tax rates, only the current year book-tax temporary differences are measured using the new rates. Explain.

Q:

Describe the relation between the book-tax differences associated with depreciation expense and with gain or loss on disposition of depreciable assets.

Q:

Identify some of the reasons why accounting for income taxes is complex.