The Income Tax (Pay As You Earn) (Amendment No. 4) Regulations, SI 2015/1927, come into force on 14 December 2015 and give effect to changes in FA 2015 which: allow employers voluntarily to ‘payroll’ specified benefits in kind; replace dispensations with an exemption for specified business expenses and remove the requirement to report these expenses on form P11D; abolish the £8,500 threshold for benefits in kind and remove the requirement to report these benefits on form P9D. They also remove the definition of ‘Scottish rate’ inserted by regulations in October. The changes take effect from 6 April 2016. HMRC consulted on drafts of these regulations between July and September 2015.
The Income Tax (Pay As You Earn) (Amendment No. 4) Regulations, SI 2015/1927, come into force on 14 December 2015 and give effect to changes in FA 2015 which: allow employers voluntarily to ‘payroll’ specified benefits in kind; replace dispensations with an exemption for specified business expenses and remove the requirement to report these expenses on form P11D; abolish the £8,500 threshold for benefits in kind and remove the requirement to report these benefits on form P9D. They also remove the definition of ‘Scottish rate’ inserted by regulations in October. The changes take effect from 6 April 2016. HMRC consulted on drafts of these regulations between July and September 2015.
