16 MARCH 2016
Voluntary payrolling will be extended to non-cash vouchers and
credit tokens from April 2017. Employers must use any specific
statutory provisions for calculating the tax charge on benefits-in-
kind. The exemption for trivial benefits (usually up to £50) will
be introduced as planned from April 2016, with a corresponding
NIC exemption later in the year. The changes to travel and
subsistence expenditure for workers engaged through an
employment intermediary will be legislated as planned in Finance
Bill 2016, but the government has decided after consultation not
to make further changes.
Off-payroll working in the public sector
From April 2017, public sector bodies and agencies will be made
responsible for operating the tax rules for individuals who work
in the public sector off-payroll through limited companies.
Loans to participators
The loans to participators tax rate will be increased from 6 April
2016 to 32.5%, keeping it aligned with the higher rate of tax
charged on dividend income.
Non-UK domiciled individuals who become deemed UK domiciled
in April 2017 will be able to treat the cost base of their non-UK
assets as being their market value on 6 April 2017. There will be
transitional provisions for those who become deemed domiciled
under the 15 out of 20 years rule. This is intended to provide
certainty on how amounts remitted to the UK will be taxed.
Employee management incentive (EMI)
A rights issue related to shares received on the exercise of an
EMI share option will be treated in the same way as other rights
issues for the purpose of identification. The new shares will be
treated as acquired at the same time as the original shares.
The reliefs under the disguised remuneration rules will be denied
where they have been used as part of a tax avoidance scheme
entered into after 15 March 2016. Following consultation
The tax rules for non-
doms are due to change
significantly in April 2017.
Take advice now for
possible ways to save tax.