Targeted employee reliefs 2011
March 21st, 2011
Several miscellenous reliefs are likely to be targeted by the March 2011 budget, including the following:
- Luncheon Vouchers
- Late-night taxi fares
If your employees currently make use of these benefits these will become taxable if the reliefs are withdrawn. To prevent the resentment that might be generated if you ask employees to fund their own tax bills on these you may wish considering settling any tax arising yourself via a PAYE Settlement Agreement (PSA). But any reliefs withdrawn are likely to apply w.e.f. 6 April 2011; i.e. next tax year
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.