In brief: 18 April 2024

Beneficial loans

The official rate of interest on beneficial loans will remain at 2.25% HMRC has confirmed.

tinyurl.com/hmrcofficialrates

PAYE

HMRC has published an update to CWG2 2024-25: Employer further guide to PAYE and National Insurance contributions. It includes the following changes: employers no longer need to notify HMRC if paying a tax-free lump sum over £30 000 to an employee unable to work due to disability injury or ill health; new rules about advance salary payments to employees; and the new rate of employee National Insurance contributions.

tinyurl.com/hmrc2425cwg2

Stamp duty

HMRC has made an amendment to its Stamp Taxes on Shares Manual at STSM053100 to clarify that the exemption from the 1.5% stamp duty and stamp duty reserve tax charge which is available for capital-raising arrangements includes situations where shares are issued for non-cash consideration for no consideration at all or where consideration is directly received by another party.

tinyurl.com/hmrcstsm053100

Reserved investor fund...