This guide provides an overview of the 3 types of employer supported childcare that are partly or fully exempt from Income tax and National Insurance contributions.
P11D(b) interim penalty warning letters
5 September 2014
HMRC have announced that a very small number of employers have incorrectly been sent an interim penalty warning letter when they have, in fact, submitted their P11D(b) for tax year 2013/14. HMRC say that: Most of the letters that have been issued inappropriately relate to employers who have changed their trading name recently. If you or your client has received a warning letter and you have successfully filed your P11D(b), you do not need to take any further action. We apologise for the inconvenience caused and are taking urgent steps to rectify the situation. All of the records impacted by this issue will be updated and a penalty will not be charged.
Consumer Rights Bill and salary sacrifice
24 September 2014
A number of members brought the above Bill that is currently going through Parliament to the attention of the policy team, and were concerned by some articles published recently that stated this would impact salary sacrifice arrangements. The articles in question implied that a salary sacrifice arrangement would be subject to a cooling off period, as with loan arrangements and credit agreements etc. Cleary this would have a major impact on any changes in contracts to accommodate salary sacrifice. HMRC and BIS have confirmed that this Bill will not impact salary sacrifice/employee benefit arrangements. HMRC intends to update its guidance in due course.
Updated scale rate expenses payments for employees travelling outside the UK
2 October 2014
HMRC have confirmed updated scale rates for accommodation and subsistence for employees travelling overseas.
Employers can reimburse subsistence to employees by making a scale rate payment. HM Revenue and Customs usually publish the rates in October or November every year. If you have employees who travel abroad for business purposes, you should see the guidance on when you can use the worldwide subsistence rates.
Benefits in kind statistics
18 November 2014
New statistics published by HMRC include a series of tables about the taxable benefits in kind paid by employers showing the number of recipients, the taxable value of the benefits and the tax and National Insurance contribution (NIC) liabilities on them.
CIPP Policy News Journal
08/04/2015, Page 150 of 521
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