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July 7—Her Majesty's Revenue and Customs launched four consultations June 18 on proposals to simplify the tax rules and administration of employee benefits and business expenses. The proposals are in response to a January report from the Office of Tax Simplification recommending changes to ease employer compliance burden.
Three of the consultations involve noncash benefits (”benefits in kind”) such as employer-provided cars or private medical insurance. Some noncash benefits are nontaxable for all employees, some taxable for all employees, and others taxable for certain employees but not all. Often, noncash benefits require additional employer reporting for tax and national insurance purposes.
The four consultations will consider the following issues:
Additional information is available at https://www.gov.uk/government/news/government-consults-on-simplifying-employee-benefits-in-kind-and-expenses.
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