OTS Review of Benefits and Expenses

Image may be NSFW.
Clik here to view.The Learn Centre has been in contact with the Office of Tax Simplification (OTS) offering to give exposure to a research project they are undertaking which will report directly into HM Treasury.  They have drafted the following message. which we are conveying in this Newsletter:

‘The OTS is carrying out a review into the area of employee benefits and expenses and is seeking input from interested groups.  Particular areas of interest are where you have practical difficulties or things that you find time-consuming and difficult.  They are also keen to hear of possible solutions to the problems.  Please send any input to ots-employee.benefits@ots.gsi.gov.uk  by 5th July 2013.’

Comment

The Learn Centre is looking forward to meeting with the OTS to put forward our views on the complexities of the current expenses and benefits system and the impact that this has on employees, employers and HMRC.  However, this is a valuable opportunity for all groups and individuals to contribute their thoughts and views directly into the OTS to a project that will report straight to Government.

It is particularly relevant at this time to publicise this review, given that many of us are in the stages of preparing our P11D / P9Ds, looking at our Dispensations and PAYE Settlement Agreements and struggling to get details of those expenses that you know have been paid by another department – been there, done it and got the T-shirt!

So, use this opportunity to communicate with the OTS and ensure that the submission is with them by 05 July 2013.  Some pointers, possibly:

• Is the £8,500 threshold for P11Ds outdated or is it still relevant – why not do a P11D for everyone?
• Should we put all benefits through the payroll and do away with P11D reporting altogether?
• Can we report benefits and expenses in real time via RTI?
• Should we dispense with Class 1A and Class 1B NICs and make everything subject to Class 1?

Further Information

• Office of Tax Simplification

Image may be NSFW.
Clik here to view.