Stephen Woodhouse and Varinder Allen review the tax issues, including the impact of the disguised remuneration legislation.
Real Time Information (RTI) is ‘on track and proceeding well’, according to HMRC, but the ICAEW Tax Faculty has warned that the proposed timetable is ‘unrealistic’. It is ‘alarming’, the Faculty said last week, that there are ‘so many [issues which] are unresolved’.
A smartphone ‘as configured and understood at the start of 2012’ is a mobile phone and qualifies for the tax exemption for a single mobile phone made available to an employee without transfer of ownership, HMRC has announced.
The government should stop pay arrangements that could allow senior officials to avoid thousands of pounds in tax, the head of the senior civil servants’ union said today after it emerged that the Department of Health pays the salaries of 25 senior staff to limited companies.
HMRC has reminded employers that from April 2012 it will have the power to require an employer to pay a security where there is a ‘serious risk’ of non-payment of PAYE tax or NICs.
Is it better to incentivise private company employees with shares or EMI options? Paula Tallon and Adam Bradley set out the tax considerations and comment on some of the legal and practical issues.
The Chief Executive Officer of the Student Loans Company at the centre of controversy over his tax arrangements was advised to account for tax and national insurance contributions under special rules introduced to counter tax avoidance via personal service companies.
HMRC has withdrawn its plans to introduce a leaver statement instead of a form P45. ‘We have been working closely with employers and stakeholders about the introduction of Real Time Information,’ said Stephen Banyard, Acting Director General for Personal Tax.