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Medical expenditure
Finance Act 2014, s 12 introduces a new tax exemption for expenditure by employers on recommended medical treatment intended to help an employee return to work after absence due to injury or ill health. HMRC have published draft regulations, setting out the additional criteria that treatment must meet for the exemption to apply.
Medical expenditure
Finance Act 2014, s 12 introduces a new tax exemption for expenditure by employers on recommended medical treatment intended to help an employee return to work after absence due to injury or ill health. HMRC have published draft regulations, setting out the additional criteria that treatment must meet for the exemption to apply.
RTI penalties
HMRC have updated the helpsheet “At a glance: late/non filing penalties and appeals”, following the announcement of the phasing in of in-year PAYE filing penalties for 2014/15.
VAT
Notice 199a Temporary Storage has been revised. It cancels and replaces the May 2009 version.
EMI1 withdrawn
The paper version of form EMI1 has been withdrawn by HMRC. Notification of enterprise management incentive options granted from 6 April 2104 must be made online using HMRC’s employment related securities online service. A grant of options must be notified online within 92 days of the date of grant or they will not be qualifying options.
RPI
The value of the retail price index for August is 257.0.
Tonnage tax
HMRC have published draft amendments to their Tonnage Tax Manual. Comments should be sent by 30 November.
VAT taskforces
HMRC have launched taskforces to tackled fraudulent VAT repayments in the Birmingham, Coventry, Stoke, Wolverhampton and Nottingham. They are expected to recover around £7m, with other VAT repayment taskforces having already recovered more than £22m since 2012.
