Pension schemes newsletter 85: includes articles on Spring Budget 2017 and the overseas transfer charge;
Making tax digital: update on primary and secondary legislation: updated overview of the primary legislation, now contained in Finance Bill 2017 (clauses 120, 121, 122 and Sch 25). Draft regulations setting out detailed processes for record-keeping and reporting will follow shortly;
Pensions advice: draft updates to the Employment Income Manual for the new statutory exemption of £500 in a tax year for pensions advice provided to employees from April 2017;
Assets made available to employees without transfer: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 11) setting out a detailed method for calculating the cash equivalent of assets provided to employees which are made available for private use;
Alignment of dates for making good on benefits in kind: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (clause 9), which sets 6 July following the end of the tax year as the date for an employee to make good on benefits in kind which are not ‘payrolled’ in real time;
Tax relief for employee liabilities and indemnity insurance: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 13) ensuring that employees, or former employees, will not be taxed on the benefit of legal advice or indemnity insurance funded by their employer, whether or not any allegation is made against the employee;
Optional remuneration arrangements: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 8 and Sch 2) removing income tax and employer NICs advantages where benefits in kind are provided through salary sacrifice or other optional remuneration arrangements;
VAT road fuel scale charges: updated table of VAT road fuel scale charges, to be used from the start of the next prescribed accounting period beginning on or after 1 May 2017.
Pension schemes newsletter 85: includes articles on Spring Budget 2017 and the overseas transfer charge;
Making tax digital: update on primary and secondary legislation: updated overview of the primary legislation, now contained in Finance Bill 2017 (clauses 120, 121, 122 and Sch 25). Draft regulations setting out detailed processes for record-keeping and reporting will follow shortly;
Pensions advice: draft updates to the Employment Income Manual for the new statutory exemption of £500 in a tax year for pensions advice provided to employees from April 2017;
Assets made available to employees without transfer: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 11) setting out a detailed method for calculating the cash equivalent of assets provided to employees which are made available for private use;
Alignment of dates for making good on benefits in kind: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (clause 9), which sets 6 July following the end of the tax year as the date for an employee to make good on benefits in kind which are not ‘payrolled’ in real time;
Tax relief for employee liabilities and indemnity insurance: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 13) ensuring that employees, or former employees, will not be taxed on the benefit of legal advice or indemnity insurance funded by their employer, whether or not any allegation is made against the employee;
Optional remuneration arrangements: draft updates to the Employment Income Manual for the legislation in Finance Bill 2017 (cl 8 and Sch 2) removing income tax and employer NICs advantages where benefits in kind are provided through salary sacrifice or other optional remuneration arrangements;
VAT road fuel scale charges: updated table of VAT road fuel scale charges, to be used from the start of the next prescribed accounting period beginning on or after 1 May 2017.
