Apr 2011The UK Government published draft law last December that had far reaching provisions to tax "disguised remuneration" provided to employees. In particular, a number of the provisions were likely to affect expatriate employees. Where the law applies, it can have immediate payroll reporting obligations and, therefore, has significant repercussions for employers. Revised law published in the Finance Bill may not solve every difficulty but shows some definite improvement and addresses a number of concerns raised by PwC and others in representations.
This article includes the following topics:
- employment income provided through third parties;
- exemption for benefits;
- exemption for "exempted" expenses and benefits;
- non-UK pension schemes;
- extra statutory concession A10 (ESC A10); and
- deferred compensation.
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