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
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
For tax purposes, it is well known that there is relief for business mileage driven in a private car under Income Tax (Earnings and Pensions Act (ITEPA) 2003 ss 229-231 (mileage allowance relief).
The CIOT has responded to a HMRC consultation proposing a legislative change to allow HMRC to take into account taxes already paid by a worker and/or their intermediary (typically a personal servic
The consultation considered three proposals.
