The mobile phone tax charges you could avoid ; In Brief [Hull Daily Mail (England)]
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[February 14, 2012]

The mobile phone tax charges you could avoid ; In Brief [Hull Daily Mail (England)]

(Hull Daily Mail (England) Via Acquire Media NewsEdge) LAW: Employers are being urged to examine tax rules on the use of mobile phones.

Smailes Goldie Chartered Accountants in Hull is warning both employers and employees that not understanding tax rules on phones and similar devices could hit them in the pocket.

Partner Mark Sharpley said: "In principle, if an employee makes an asset available for an employee's private use there is a charge to tax.

"Ignoring special cases like houses, vans and cars, assets are liable to a 'benefit in kind' tax charge on 20 per cent of its initial market value. "If the annual cost to the employers of renting or hiring the asset is more than 20 per cent of the market value, the tax charge is based on the rent or hire payment.



"Mobile phones are different however, as an employer can make available one mobile phone to each employee without giving rise to a tax charge." Visit www.smailesgoldie.co.uk for details.


(c) 2012 ProQuest Information and Learning Company; All Rights Reserved.

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