Rent-a-room relief to be modified
11/07/2018 – The publication of the draft Finance Bill 2018-19 includes legislation to change the way the rent-a-room relief scheme works. Following last year's Budget, a consultation was launched by HM Treasury to examine the design of the rent-a-room scheme.
When the relief was first launched it was intended to be used where one bedroom in a house … More...
Beneficiaries of tax exempt pension benefits to be extended
11/07/2018 – The draft Finance Bill includes a new measure that will help modernise the tax treatment of employer paid premiums for the provision of death in service life assurance products for their employees.
Currently, these premiums are only tax-exempt if the named beneficiary is a member of the employee’s family, or a member of their … More...
Rules for use of taxable cars and vans to be updated
11/07/2018 – The Finance Bill 2018-19 draft clauses include new measures that will address two anomalies in the Optional Remuneration Arrangements (OpRA) rules.
These measures will:
ensure that when a taxable car or van is provided through OpRA, the amount foregone, which is taken into account in working out the amount reportable for tax and … More...