Nicholas Gardner on Chilcott and grossing up notional payments
A new online resource, ‘Basic PAYE Tools’, is to replace HMRC’s Employer CD-ROM. The resource is available on the Business Link website.
Deferred bonus arrangements meeting certain conditions are to be excluded from proposed measures to tackle income tax and NIC avoidance by means of ‘disguised remuneration’.
Helen Lethaby reviews the latest developments in tax affecting financial services
The Registered Pension Schemes (Provision of Information) (Amendment) Regulations, SI 2011/301, and the Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations, SI 2011/302, make changes to the information about individuals which a scheme administrator is required to repor
The Social Security (Contributions) (Amendment) Regulations, SI 2011/225, provide that certain expenses paid to MPs are disregarded in calculating earnings chargeable to class 1 national insurance contributions, in order to align the tax and NIC treatment of MPs’ expenses.
David Cohen explains how to handle some key issues in practice
Important developments are taking place in the field of remuneration planning.
New rules for ‘disguised remuneration’
The official rate of interest used in calculating the benefit of a ‘taxable cheap loan’, treated as earnings by ITEPA 2003 s 175, will remain at 4% for the tax year 2011/12 subject to any review in the event of significant changes in interest rates, HMRC announced.