The Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2012/822, amend SI 2003/2682 to introduce Real Time Information (RTI), and close the simplified PAYE deduction scheme to new employers, from April 2012
The Social Security (Categorisation of Earners) (Amendment) Regulations, SI 2012/816, amend SI 1978/1689 to exclude lecturers, teachers etc e
The Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations, SI 2012/804, specify for 2012/13 the levels of the lower and upper earnings limits and the primary and secondary thresholds for Class
The Postal Services Act 2011 (Taxation) Regulations, SI 2012/764, are intended to provide a ‘tax neutral’ outcome on the transfer of pension rights from the Royal Mail Pen
HMRC has updated the following toolkits for the 2011/12 tax return:
The recommendations of the Office of Tax Simplification (OTS) for changes to tax-advantaged employee share schemes, to the extent they are implemented by the government, should make life easier for scheme companies and more incentivising for their employees.
The Social Security (Contributions) (Amendment) Regulations, SI 2012/573, amend the principal NIC regulations for earners who hold two or more employments, to reflect recent changes to NIC rates.
HMRC has published a revised table of advisory fuel rates to be used by employers reimbursing employees for business travel in their company cars.
Tom Cartwright reviews the decision of the First-Tier Tribunal in Reed Employment, which casts considerable light on salary sacrifice arrangements.