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luncheon vouchers
Luncheon Vouchers – Repeal of Tax and Class 1 NICs Relief
The Luncheon Voucher relief (introduced in 1946 at the time of food rationing, with the intention of helping individuals afford meals) gave tax and NICs relief on the first 15p per working day, where a voucher was provided by employer to employee. For the sake of interest only, the following will be repealed in order [...]
Further consultation on abolition of tax reliefs
HM Treasury does not have enough information on the reliefs being considered for abolition and is seeking clarification from interested parties on the extent to which they are currently being used. The Office of Tax Simplification (OTS) is tasked by the Treasury with simplifying tax reliefs and small business taxation (including the IR35 rules). In [...]
Consultation on the abolition of certain tax reliefs
On 27th May, HMRC launched the promised consultation on the abolition of certain tax reliefs announced By George Osborne at the time of the Budget in March. This resulted from a report produced by the Office of Tax Simplification (OTS). The OTS identified over 1,000 different individual exemptions, most of which are obscure and little [...]
