GLOBAL PAYROLL MAGAZINE
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ng
HM Revenue and Customer with a catchup tax liability being placed on those who received benefits in kind such as Company Cars, Private Medical Insurance, Company Loans, and various other benefits. In April 2017, a formal means of payrolling benefits was introduced. A method previously being applied unofficially by some employers was, due to an initiative by the former Office of Tax Simplification (OTS), allowed to formally be applied along with payroll payments by a voluntary arrangement.
mandatory payrolling being required from April 2026 and onwards. There are lots of complexities to be ironed out to make what was previously a retrospective reporting activity into an advance prediction of what benefit values apply in real time. Much of the detail remain unknown on who, what and how this is to be implemented. Many may take the view, that already having undertaken payrolling for the past 6 years, the process should be relatively easy. However, it is likely to involve more fundamental changes and it is not the same.
Voluntary is not being withdrawn, with
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