What is Cash IQ?
Cash IQ helps businesses who offer cash allowances in lieu of a company car, make immediate savings in Class A National insurance.
How does it benefit your business and employees?
Using Cash IQ can benefit your business in a multitude of ways:
- Your company will benefit from a reduction in NI payments
- The employee will benefit from a reduction in NI contributions based on the business mileages recorded
- Employees will no longer need to claim MAR on P87 or have the relief delivered through MARORS. The relief is delivered directly through their payroll.
- TMC will provide you with a simple payroll file each month based on the employee’s mileage.
To find out more about how we could make savings for both your employees and your business, please don’t hesitate to contact us here.