.png)
.png)
Parliament decided not to legislate for the proposed exemption to income tax for trivial benefits in kind.
The decision was made to enable the swift enactment of Finance (No 2) Bill, meaning the exemption will not come into force from 6 April as originally planned.
The measure would have exempted small benefits of up to £50 as long as they were not in recognition of services, part of a contractual obligation, or made in conjunction with a salary sacrifice arrangement.
Parliament decided not to legislate for the proposed exemption to income tax for trivial benefits in kind.
The decision was made to enable the swift enactment of Finance (No 2) Bill, meaning the exemption will not come into force from 6 April as originally planned.
The measure would have exempted small benefits of up to £50 as long as they were not in recognition of services, part of a contractual obligation, or made in conjunction with a salary sacrifice arrangement.
HMRC say they will allow employers time to update their payroll systems before the exemption is introduced.
Other changes to the benefits and expenses rules – the abolition of the £8,500 threshold, collection of income tax on benefits in kind in real time, and the paid and reimbursed expenses exemption – went ahead as planned.
