Pros and cons of payrolling benefits

In this episode of The Tax Track, we discuss HMRC’s plans to mandate the payrolling of benefits in kind, and look at the implications of a recent tax case.

With the payrolling of all benefits in kind set to be mandatory from 2025/26, we examine whether this really is the simplification it’s meant to be, and what employers and agents can do now to smooth the way. Plus, a recent tax tribunal case highlighted the importance of documentation and how it can severely impact the amount of tax due.

Lindsey Wicks, Senior Technical Manager for Tax Policy at ICAEW, discusses the issues with Stephen Relf, Technical Manager, Tax, and Peter Bickley, Technical Manager, Tax.

Links

• Is it time for employers to start payrolling benefits and expenses? https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2023/is-it-time-for-employers-to-start-payrolling-benefits-and-expenses 
• Payrolling Benefits and Expenses webinar, 16 October 2024 https://events.icaew.com/pd/29313/payrolling-benefits-and-expenses
• Working out the date of disposal isn’t always child’s play
  https://www.icaew.com/technical/tax/tax-faculty/taxline/articles/2024/working-out-the-date-of-disposal-isnt-always-childs-play 

Panel

• Lindsey Wicks, Senior Technical Manager, Tax Policy, ICAEW
• Stephen Relf, Technical Manager, Tax, ICAEW
• Peter Bickley, Technical Manager, Tax, ICAEW

Producer
Ed Adams

Episode first published: 30 May 2024
Recording date: 20 May 2024