HMRC has updated the list professional bodies and learned societies, approved by HMRC for the purposes of Section 344 ITEPA 2003.
The list is updated periodically and includes all bodies approved by the Commissioners for HMRC up to 31 March 2014. It shows:
professional bodies and learned societies, approved by HM Revenue & Customs (HMRC) for the purposes of Section 344 ITEPA 2003 (formerly S201 ICTA 1988) details of statutory fees or contributions allowable for earlier years 2003-04 onwards are within S343 ITEPA 2003 (for earlier years S201(2) ICTA 1988).
Overnight subsistence allowances paid to lorry drivers
16 April 2014
Following discussions with the Road Haulage Association, HMRC has announced that the lorry drivers’ overnight subsistence allowance rate remains unchanged.
The rate is £26.20 for drivers with sleeper cabs and £34.90 for drivers with non-sleeper cabs. The Employment Income Manual will be updated accordingly.
Visit HMRC’s website for full details
Tax-Free Childcare
HMT ANNOUNCES TAX FREE CHILDCARE FOR 2.5. MILLION WORKING FAMILIES
19 March 2013
HM Treasury has announced tax free childcare for many millions of working families; so what does this mean for payroll?
Well what it means for payroll is potentially the end of employer supported childcare through offering childcare vouchers and salary sacrifice. The government intends to consult in late spring on the detail of these plans and the CIPP will be involved. The government will work with childcare providers and other third parties wishing to offer a service whereby the parents can elect to join a scheme directly and pay the providers in exchange for childcare vouchers. The nursery providers and or nanny agents may also decide to offer this service. This will then mean the providers will have a relationship with the government i.e. HMRC to receive the tax element back. The government proposes that a parent can, for each child have tax back on £1200 per annum so for example a parent contracts with a provider to pay £100 per month. Effectively they will pay £80pm and the provider will receive £20 from HMRC making the total £100. This scheme is likely to come into force from April 2015, but it is expected those employers who currently offer a child care voucher scheme can continue to do so up until that date i.e. after April 2015 anyone in the scheme can remain in the scheme, but no-one will be permitted to join it after that date and instead would need to join the new scheme directly with a provider. This will mean the end of salary sacrifice for new entrants after 2015. It is important to note, how the phasing out of the current employer supported schemes will happen, the rules around what and how the new scheme applies will be included in the consultation document expected later in the spring. The CIPP’s policy team will keep you informed when we receive further information.
CIPP Policy News Journal
16/04/2014, Page 152 of 519
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