This Practice Note sets out the details of the apprenticeship levy, which is payable by certain employers from 6 April 2017. The levy is charged at a rate of 0.5% of an...
Contributed by Chris Coulston and Harry Stead, Deloitte LLP The funding of defined benefit pension schemes and the volatility and risk associated with these schemes has...
Authorised payments v unauthorised payments A pension scheme that has registered with HM Revenue & Customs (HMRC) benefits from favourable UK tax treatment. Broadly, this...
THIS PRACTICE NOTE APPLIES TO UK REGISTERED PENSION SCHEMES What is a benefit crystallisation event? Under the UK’s registered pension scheme regime (for more information...
Bonuses can be a very effective tool to motivate and retain employees while allowing businesses to control wage costs. In certain sectors and industries (eg the financial...
Convertible securities are: • employment-related securities (see: What is an employment-related security?) • with the capacity to convert into securities of a different...
This note explains the income tax treatment of convertible securities. The definition of convertible securities is set out in Convertible securities—definition. The basic...
Corporation tax deduction for costs incurred in setting up and operating employee share schemes Costs incurred in setting up and operating an employees’ share scheme may...
An employing company is entitled to corporation tax relief, under a specific set of rules in the Corporation Tax Act 2009 (CTA 2009), in relation to: • the acquisition of...
What is disguised remuneration? HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National...
In 2011, anti-avoidance legislation in the form of Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) was introduced to tackle arrangements aimed at...
Introduction HMRC has, for many years, sought to ensure that the rewards gained from employment are properly subject to income tax and National Insurance contributions...
The huge volume of legislation that comprises Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) (the disguised remuneration rules) was introduced by...
Sections 554A–554AA of Income Tax (Earnings and Pensions) Act 2003 (ITEPA 2003) are referred to by HMRC as the ‘gateway’ to the disguised remuneration legislation (this...
This Practice Note focuses on the meaning of a 'relevant step'. One of the requirements set out in the 'gateway' to the disguised remuneration rules (in section 554A of...
Under the disguised remuneration rules, the value of the 'relevant step' counts as employment income. For the meaning of a relevant step, see Practice Note: Disguised...
