News & views from the East Midlands

Making Tax Digital plans suspended

Following the calling of a snap general election, numerous elements of the Budget proposals have been dropped from the Finance Bill.  One of the most notable removals concerns Making Tax Digital (MTD).
 
The current position is that, (subject to any future Budget announcements), MTD will now not be coming into effect in April 2018.
 

Are you paying your employees tax efficiently?

With P11D submissions for employees due at the beginning of July, now is a good time to take stock of the benefits you provide to your workforce and evaluate if there are more tax efficient options available.  It’s also worth reviewing whether there are more potentially appealing benefits you could be providing that could help you to attract, remunerate and retain staff. 

In this article we look at a selection of employee benefits that are exempt from tax. Whilst this list is not exhaustive, each is worth considering to see if it would be a positive step forward in the tax position of both the employee and the business itself.
 
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