Share plans and benefits
October 2011
• SAYE bonus rates are reduced to nil (except for 7 year contracts which are at 0.58%) on or after 23 September 2011.
• HMRC has published updated checklists for use when establishing HMRC approved CSOPs, SAYE plans and SIPs.
• HMRC will require output tax to be accounted for on taxable benefits provided under salary sacrifice arrangements from 1 January 2012. Revenue & Customs Brief 28/11 sets out the VAT treatment of benefits under such arrangements following the European Court of Justice judgment in Astra Zeneca UK Limited v HMRC.
• The Upper Tribunal in HMRC v Total People Limited determined that lump sum payments unrelated to mileage were liable for national insurance contributions ("NICs").