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Trivial benefits

Our first Autumn Statement representation dealt with two aspects of the trivial benefits exemption in the Income Tax (Earnings and Pension) Act 2003 s 323A: revising

The consultation forms part of a package of measures announced by the Chancellor at the Spring Budget which aim to reduce the number of people out of work due to long-term sickness.

The CIOT and LITRG have responded to a short technical consultation on proposed PAYE amendment regulations, which are intended to allow employers to delay reporting an advance payment of salary (‘s

The CIOT has been in correspondence with HMRC regarding the application of the optional remuneration (OPRA) rules to cash long term incentive plans (LTIPs), which involve the deferral of annual bon

On 18 July 2023, several consultations were launched as part of ‘Legislation Day’ (or ‘L-Day’); one of these concerned the tax treatment of Employee Ownership Trusts (EOTs) and Employee Benefit Tru

The draft regulations themselves have not yet been published, but HMRC’s policy paper published at the same time as the draft legislation indicates that the government will require businesses to pr

The CIOT has responded to a Call for Evidence seeking views and evidence on the current usage of Save As You Earn (SAYE) and Share Incentive Plan (SIP) arrangements, and whether they are effective

CIOT response

The CIOT’s comments were mainly limited to the proposals in respect of tax compliance (Chapters 4 and 5 of the consultation document), although we also made some observation

The apparent ‘misnaming’ of the two types of relief do not help employers to get things right: a ‘net pay arrangement’ (NPA) sees contributions being deducted from gross income; and a ‘rel