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.
HMRC is proceeding with an appeal against the decision of the First-Tier Tribunal in Total People Ltd v Revenue and Customs Comrs TC 661.
Several core areas of small business taxation have been raised and debated ‘time and again’ during the recent roadshows organised by the Office of Tax Simplification.
Jeremy Edwards reviews the types of share plans operated by FTSE 100 companies and identifies trends for 2011
The National Insurance Contributions Bill completed its House of Commons stages and was read a first time in the House of Lords on 13 January. The second reading in the House of Lords is scheduled for Monday, 24 January.
Karen Cooper and Natalie Smith review the draft disguised remuneration legislation and its implications for common employment and pensions arrangements
The revised version of HMRC’s guide to Residence, Domicile and the Remittance Basis, is now available.
Andrew Hodge on FB 2011 provisions on employment tax
The National Minimum Wage (Amendment) (No.2) Regulations, SI 2010/3001, provide that payments by an employer for travel expenses to a temporary workplace which are eligible for tax relief do not count as pay for NMW purposes