Please note this concession only applies to employers who registered to payroll BiKs for 2017/18 outside of OPRA and have been payrolling Relevant Amounts where there is tax due.”
We asked HMRC some follow up questions:
1. Is this only for 2017-18 i.e. for employers who are payrolling in 2018-19 they will have to complete a P11D as well as process payrolled amounts through their FPS? 2. The term Relevant Amount, (per the valuation rules in ITEPA), is this the value of the ‘greater of’ amount?
HMRC confirmed that:
1) The concession to allow employers who are currently payrolling OpRA, is solely for 2017/18, because PAYE regs are not in force as yet. Employers payrolling OpRa will not need to submit a P11D in 18/19.
2) The relevant amount is indeed the greater of the cash equivalent of the BiK or the cash forgone in relation to the BiK.
Further updates on this concession are due to be published and we will update you when more information becomes available. In the meantime you can email employmentincome.policy@hmrc.gsi.gov.uk if you have any questions.
Back to Contents
Voluntary payrolling BiKs company cars and fuel – volunteers needed 14 August 2017
If you have chosen to voluntary payroll Benefits in Kind (BiKs) specifically company cars and car fuel for 2017-18, HMRC would value your input.
We recently published a joint survey designed by HMRC and CIPP to collect views and experiences from employers who have chosen to voluntary payroll BiKs specifically company cars and car fuel, and have voluntarily begun to input company car data to the Full Payment Submission (FPS) during the 2017-18 tax year.
HMRC would like to carry out some follow up work with a small number of volunteer employers to observe how the data collection and input process works for employers of all sizes.
Space is available at the end of the survey to input your contact details if you would be happy to be involved with the follow up work, however this is not a compulsory requirement for completing the survey.
If you do not wish to complete the survey but would be interested in assisting HMRC, please contact Samantha Mann, senior policy and research officer by email with your details.
Back to Contents
Employee rewards using gold bullion is not a reasonable course of action 14 August 2017
The General Anti-Abuse Rule (GAAR) advisory panel has stated that using gold bullion is not a reasonable course of action in relation to the relevant tax provisions.
HMRC’s has previously made it clear that their firm view is that these types of tax avoidance schemes do not work.
The opinion of the GAAR advisory panel on employee rewards provided as gold bullion is:
entering into the tax arrangements isn’t a reasonable course of action in relation to the relevant tax provisions carrying out of the tax arrangements isn’t a reasonable course of action in relation to the relevant tax provisions
You can use GAAR’s opinions together with the GAAR guidance to help you recognise abusive tax arrangements
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
Page 168 of 516
Made with FlippingBook - Online magazine maker