Key Historical Dates
2014
New late in-year late filing penalty for FPS returns (10.14) Right to request flexible working extend to all employees (30.6.14) Annual allowance for pension tax relief restricted to £40,000 and lifetime allowance £1.25m
2015 COPYRIGHT © 2021 THE CHARTERED INSTITUTE OF PAYROLL PROFESSIONALS New shared parental leave and pay rights for babies born on or after 5 April 2015 Abolition of Employer National Insurance Contributions for employees under the age of 21 Statutory “trivial benefits” threshold of £50 introduced, subject to £300 annual cap for close companies Introduction of new state pension and abolition of state secondary pensions 2016
Abolition of contracting out for defined benefit pension schemes Abolition of employers NICs for apprentices under the age of 25 Abolition of the £8,500 threshold for Benefit in Kind reporting Introduction of a statutory framework for payrolling of benefits in kind New statutory exemption for employee expenses payments and abolition of the dispensation process Introduction of a national living wage Repayment of income contingent student loans commences Scottish rate of Income Tax commences Implementation of the new Tax-Free Childcare Allowance expected early 2017 and notice that existing employer assisted childcare provisions must close for new entrants form April 2018 No printing, copying or reproduction permitted. New rules for benefits in kind to remove tax exemptions for certain BiKs when provided under a salary sacrifice arrangement. Also includes valuing the BiK at the higher of the normal valuation and the sacrifice. Cash for BiK arrangements determined by HMRC as a salary sacrifice arrangement. Scottish parliament exercises its new powers over taxation and sets a Higher rate threshold lower than the rest of the UK Apprenticeship levy is implemented PAYE imposed on fees charged by off-payroll workers in the public sector
2017
97
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