Proposed changes to dates for employees reimbursement on benefits
Date: 26th September, 2016 | Author: Cathy Corns | Comments: 0
Employees provided with a taxable benefit in certain circumstances can reduce or remove the tax charge by making a payment for the benefit. There are a number of deadlines by which this can be done, depending on the benefit provided which can lead to confusion and unexpected charges. Accordingly, HMRC is consulting on a proposal to align the dates for reimbursement for:-
- Benefits other than car and van fuel – by the end of the tax year in which the benefit is provided;
- Car and van fuel where the employer provides the vehicle – by 1 June following the tax year in which the benefit is provided.
This will bring the dates in line with the PAYE rules where benefits are payrolled.
The consultation ends on 4 October 2016 and hopefully we will know more when next year’s draft legislation is issued – normally in December.
Contact Our Partners
Choose from the drop down menu below to select a Partner to contact.
You are welcome twitter.com/sglenholme/sta…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole