The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
• salary sacrifice for the provision of benefits in kind.
The Policy Team always produce a summary of relevant announcements; watch our news pages on Wednesday 23 November to find out what you need to know.
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Finance Act 2016 19 September 2016
The Finance Bill has eventually received Royal Assent and has become the Finance Act 2016.
GOV.UK hosts the collection of supporting documents for the Finance Act; the vehicle for renewing annual taxes, delivering new tax proposals and maintaining administration of the tax system.
Relevant legislation for the payroll profession include the apprenticeship levy, income tax, paying HMRC, tax administration and tax avoidance and evasion.
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Government Committee launch inquiry on executive pay 20 September 2016
The Business, Innovation, and Skills (BIS) Committee has launched an inquiry on corporate governance, focusing on executive pay, directors duties, and the composition of boardrooms, including worker representation and gender balance in executive positions. The BIS Committee inquiry follows on from the corporate governance failings highlighted by the Committee’s recent inquiries into BHS and Sports Direct, and in the wake of commitments from the Prime Minister to overhaul corporate governance. Executive pay What factors have influenced the steep rise in executive pay over the past 30 years relative to salaries of more junior employees? How should executive pay take account of companies’ long-term performance? Should executive pay reflect the value added by executives to companies relative to more junior employees? If so, how? What evidence is there that executive pay is too high? How, if at all, should Government seek to influence or control executive pay? Do recent high-profile shareholder actions demonstrate that the current framework for controlling executive pay is bedding in effectively? Should shareholders have a greater role? The inquiry questions are as follows:
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