We think you would all agree that the regime for taxing employee benefits and expenses is unduly complex.
The good news is that HMRC have undertaken a review and have identified the following areas for review:
- Business travel and subsistence expenses
- The rules for dealing with termination payments which give rise to significant problems, even though they affect fewer people
- The interaction between submitting P11D forms and their impact on PAYE tax codes – in our experience this can easily cause employees to accrue significant tax underpayments
Watch this space for more details – we hope to hear more by the end of 2013…..