London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Voluntary payrolling of employee benefits and expenses

HMRC has published a consultation document on the possibility of a voluntary system to enable employers to account for tax and national insurance on employee benefits in real time through payroll.

The government believes that payrolling benefits could offer substantial administrative savings for employers, and it wishes to create a system that will enable employers to use this process, if they wish.

It is consulting on the design and scope of a payrolling model and is also interested to hear from employers who are already payrolling benefits on an informal basis.

Three priority areas for consultation are:

  • Private use contributions for company cars and fuel,
  • Private medical and gym membership fees, and
  • One-off large benefits through transfers of assets.

 

 

Date: 23rd July, 2014
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Michael Lapham shortlisted in the Money Management Financial Planner Awards 2017 bit.ly/2fL8VXBtwitter.com/i/web/status/8…

#Farming trading as a #partnership potential #tax pitfalls and tips @mercerhole Phil Fenn insight shar.es/1SHZhc @accountancylive

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn