Proposals put forward by the Office for Tax Simplification (OTS) to pass pension data directly to HMRC will likely help savers but add millions more to the cost of pension tax relief, Lane Clark & Peacock (LCP) says.
The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.
Payrolling of P11Ds is a step nearer as HMRC reveals its service. Owain Thomas examines the details and two important consultations.
HM Treasury will undertake a wide ranging series of consultations around the simplification of employee benefits taxation this summer.
Employers will be able to file employee share scheme data online with HM Revenue and Customs from 6 April.
The Office of Tax Simplification (OTS) has recommended the government should undertake a radical overhaul of employee benefits tax and administration rules.
The Office of Tax Simplification (OTS) has urged government to clarify its approach to salary sacrifice.