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Three proposed changes that could impact the HR tax environment
HMRC have issued a number of consultations proposing changes to the HR tax environment. These will be effective at different dates, the first commencing in April 2017.
Three of the most significant proposed changes are:
- The provision of benefits-in-kind in conjunction with salary sacrifice
- Simplifying the PAYE Settlement Agreement (PSA) process
- The tax and NIC treatment of termination payments.
These three proposed changes have been summarised in this article, in conjunction with the Federation's tax advisers Deloitte LLP.
This summary is intended to provide housing associations with a high-level overview of the proposals only – it is recommended that individual associations seek appropriate input on their specific arrangements.