The Office of Tax Simplification is to examine the complexities surrounding share schemes and pensioners’ taxation, having identified these areas as having the potential to benefit a significant number of taxpayers, tackle legislative complexity and streamline tax administration.
HMRC are offering employers who have utilised Employee Benefit Trusts and similar arrangements the opportunity to resolve outstanding enquiries without recourse to litigation. Adam Craggs considers whether employers should take up this opportunity.
HMRC have a dedicated post room for receipt of paper forms P11D & P11D(b) for 2010/11:
HMRC have announced changes to the advisory fuel rates to be used by employers reimbursing employees for business travel in their company cars.
The government is consulting on proposed changes to limit ‘unintended tax relief’ for employer ‘asset-backed’ contributions to defined benefit registered pension schemes.
HMRC published a ‘technical pack’ for ‘real time information’ reporting, to enable software developers to build payroll software products capable of reporting using the internet through the Government Gateway.
The government has tabled dozens of amendments to Finance Bill provisions on ‘disguised remuneration’ that have been severely criticised by tax professionals.
Employers who have not yet received their 2011/12 PAYE payment booklets may not receive them in time for the first due date of the new tax year, HMRC said.
Conor Brindley considers the circumstances under which an employment income tax charge can arise on a share-for-share exchange