Revenue & Customs Brief 18/11 sets out HMRC's current view on inheritance tax issues associated with employee benefit trusts. It ‘supersedes and amplifies’ Revenue & Customs Brief 61/09.
HMRC confirmed that ‘real time information’, a new system intended to improve the operation of PAYE, will go ahead.
Employers will report tax and NIC deductions when they pay their employees, rather than at the end of the tax year.
The Social Security (Contributions) (Amendment No. 4) Regulations, SI 2011/1000, amend the NICs disregard in relation to qualifying childcare vouchers.
The Social Security (Contributions) (Re-rating) Order, SI 2011/938, specifies the rates of Class 2 and Class 3 NICs and the amount of earnings below which an earner may be excepted from liability for Class 2 contributio
The Approved Mileage Allowance Payments (Rates) Regulations, SI 2011/896, increase the higher rate of AMAPs for cars from 40 to 45 pence per mile for the first 10,000 of business travel in an employee’s private car or van.
The Car Fuel Benefit Order, SI 2011/895, increases to £18,800 the multiplier used in ITEPA 2003 s 150 to calculate the cash equivalent of the benefit of car fuel received by an employee to whom the car benefit charge applies
The National Insurance Contributions Act 2011 received Royal Assent on 22 March. It provides for increased rates of NICs and a regional secondary Class 1 contributions holiday for new businesses.
The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order, SI 2011/732: