HMRC has confirmed to the ICAEW tax faculty that employers should treat the changes for employer provided pensions advice and legal advice, which were dropped from the Finance Bill 2017 in the parliamentary wash-up before the general election, as having been effective from 6 April 2017.
HMRC has confirmed to the ICAEW tax faculty that employers should treat the changes for employer provided pensions advice and legal advice, which were dropped from the Finance Bill 2017 in the parliamentary wash-up before the general election, as having been effective from 6 April 2017. Employers should continue to apply the guidance published alongside the Finance Bill in March (EIM 21802 on pensions advice and EIM 30509 on legal expenses). See http://bit.ly/2qTsqis.
The new income tax exemption will cover the first £500 worth of pensions advice provided to an employee. The legal expenses exemption extends existing reliefs to circumstances where no allegation has been made or is expected to be made against the employee.
The government has stated that there has been no policy change and, if re-elected, it intends to re-introduce the provisions at the earliest opportunity in the next Parliament.
HMRC has confirmed to the ICAEW tax faculty that employers should treat the changes for employer provided pensions advice and legal advice, which were dropped from the Finance Bill 2017 in the parliamentary wash-up before the general election, as having been effective from 6 April 2017.
HMRC has confirmed to the ICAEW tax faculty that employers should treat the changes for employer provided pensions advice and legal advice, which were dropped from the Finance Bill 2017 in the parliamentary wash-up before the general election, as having been effective from 6 April 2017. Employers should continue to apply the guidance published alongside the Finance Bill in March (EIM 21802 on pensions advice and EIM 30509 on legal expenses). See http://bit.ly/2qTsqis.
The new income tax exemption will cover the first £500 worth of pensions advice provided to an employee. The legal expenses exemption extends existing reliefs to circumstances where no allegation has been made or is expected to be made against the employee.
The government has stated that there has been no policy change and, if re-elected, it intends to re-introduce the provisions at the earliest opportunity in the next Parliament.
