CIMA F1 Syllabus C. Fundamentals Of Business Taxation - Employee Taxation - Notes ^{9 / 10}

Taxable income for Employees

includes...

• Salaries and wages

• Non-cash benefits in kind (in some countries)

Deductible expenses

• Must be wholly, exclusively and necessarily in the course of employment

• So things like CIMA subscriptions and business travel

Social security contributions

These are payable by employees for their pensions and public health services

Sometimes called National Insurance

It is paid by both the employer and employee