Sea of change

09 June 2015 / Lois Derby

Issue: 4504 / Categories: Comment & Analysis , benefits in kind , expenses , Admin , Budget/Finance Act , Business , Employees , Income Tax

The new rules for expenses and benefits in kind

KEY POINTS

The Office of Tax Simplification announces a package of four measures.
A PAYE settlement agreement enables employers to deal with benefits that are not within the payrolling system.
Items that are minor irregular and difficult to quantify may be returned through the PAYE settlement agreement.
A 5 July deadline for the approval of agreements by HMRC.
A detailed consideration of some specific benefits in kind.

Following a review of benefits in kind by the Office of Tax Simplification a package of four measures was announced by HM Treasury. The proposals were as follows.

Abolition of the threshold for the taxation of benefits in kind for employees who earn at a rate of less than £8 500 a year.
...

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Sea of change

09 June 2015 / Lois Derby

The new rules for expenses and benefits in kind

KEY POINTS

The Office of Tax Simplification announces a package of four measures.
A PAYE settlement agreement enables employers to deal with benefits that are not within the payrolling system.
Items that are minor irregular and difficult to quantify may be returned through the PAYE settlement agreement.
A 5 July deadline for the approval of agreements by HMRC.
A detailed consideration of some specific benefits in kind.

Following a review of benefits in kind by the Office of Tax Simplification a package of four measures was announced by HM Treasury. The proposals were as follows.

Abolition of the threshold for the taxation of benefits in kind for employees who earn at a rate of less than £8 500 a year.
...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Issue:

4504

Categories: Comment & Analysis [1] , benefits in kind [2] , expenses [3] , Admin [4] , Budget/Finance Act [5] , Business [6] , Employees [7] , Income Tax [8]

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