Trivial employee benefits
HMRC has published a consultation document on the possible introduction of a statutory exemption for trivial benefits in kind.
The government believes that a clear statutory exemption will make administering such benefits substantially easier for employers. The government is therefore consulting on the design of an exemption.
The questions for consultation include:
- The level of a monetary limit in the definition of trivial, and
- Whether the statutory exemption should be based on the annual cost or number of trivial benefits in kind provided in a tax year.
The statutory exemption could be available at each employment, so that employees with more than one employment would benefit from more than one exemption.
Date: 25th July, 2014
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Our latest edition of UK Inward Investment - what are the opportunities for you, is out now bit.ly/2xB0cun click to read more
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole