HMRC has published guidance on the way interest is calculated, since 19 May 2014, when PAYE payments are made late.
Income tax scheme failed
A round up of other tax news:
Director personally liable for unpaid PAYE and NIC
Jonathan Fletcher Rogers considers to what extent the Ramsay principle can be applied to tax avoidance schemes involving employee bonuses.
HMRC has incorporated guidance on ‘supervision, direction or control’ for the purposes of the revised agency legislation, which has effect from 6 April 2014, into its Employment status manual at ESM2029 onwards. This follows the draft version published in March.
Was a loan to an employee ‘employment related’?
Employee awards of ‘restricted securities’ were effective
Salary sacrifice arrangements did not work
In Essack, the FTT decided that a payment to surrender a share option fell within ITEPA 2003 s 401 because it arose on the termination of employment. This seems at odds with HMRC’s guidance and another tribunal decision, writes Nigel Doran.