HMRC have announced new fuel rates for company cars, which apply to all journeys on or after 1 March 2013 until further notice. For one month from the date of change, employers may use either the previous or new rates and therefore make or require supplementary payments, but they are under no obligation to do either. Petrol hybrid cars are treated as petrol cars for this purpose. The amounts can be used for VAT, but employers will need to retain receipts.
By Keith Gordon; £95; published by Bloomsbury Professional; paperback; fourth edition; 354 pages
GF Ballard (TC2505)
Termination payments: the basic rules relating to tax treatment, their common pitfalls and potential planning opportunities
Employers are facing costs of up to £30,000 to ensure their BACS software is fully compliant with real-time information (RTI) requirements for PAYE, according to a survey by information service Payroll Alliance and the Chartered Institute of Payroll Professionals.
The results show that 42% of respondents incurred fees to include the hash total in field seven of their BACs submission, which is required by HMRC to match a payment to RTI data. Of those paying for the upgrade, 39% spent between £1,000 to £4,999, while 8% paid £7,000 and £30,000.
An employer has paid for the costs of overnight accommodation and subsistence for those employees who were unable to travel home in the extreme winter weather