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31st October 2014 by Holly Jay
Every employer knows that the taxation of employee benefits and expenses payments can be complex. Different rules for tax and NIC, the £8,500 ‘lower paid employee’ threshold and the reimbursement of travel and subsistence costs are just a few areas where it is easy to slip up if insufficient care is taken.
The government is now looking at a number of ways in which the taxation of employee benefits can be simplified. Consultation documents have been issued for various options, and employers are encouraged to make representations until 9 September. Some changes will be implemented from April next year.
31st October 2014 by Jade Sweeney
Highly paid public-sector executives who receive redundancy payments only to return to work within a year will need to repay the taxpayer, the Treasury has announced.
Detailed legislative proposals mean that individuals earning more than £100,000 who take a new job in the same part of the public sector within 12 months of being made redundant will have to repay all or some of their redundancy payment.