- HM Revenue and Customs (HMRC) changed its policy on the recovery of VAT on defined benefit pensions. There are now circumstances in which employers may be able to claim input tax in relation to pension funds: http://bit.ly/1gzU60q
- HMRC also announced that it will stagger the introduction of real-time information (RTI) penalties. The new automatic in-year pay-as-you-earn (PAYE) penalties for late filing and late payment, and in-year interest, will start in April: http://bit.ly/1kHoDxj
- The government confirmed a delay to the pension charges cap, which was due to come into effect in April 2014, but has been put off to 2015. A ban on active member discounts, and defined contribution reforms on governance and transparency, will also be delayed by a year: http://bit.ly/1feHPwr
- The government published its response to a consultation on exceptions to the employer duties around pensions auto-enrolment: http://bit.ly/1b2vaPT
- The government launched its Closing the gap: priorities for essential change in mental health report, which outlines 25 areas for health and care services to take action to help tackle mental health conditions: http://bit.ly/1edi4L3
- The Office of Tax Simplification published its recommendations on benefits tax, including 20 proposals to simplify the process for employers and employees: http://bit.ly/1d9X9HS
- Employers that do not pay staff the national minimum wage will face a higher penalty of up to £20,000. The government increased the financial penalty percentage from 50% to 100% of the unpaid wages owed to workers found to be underpaid, plus a penalty fine of up to £20,000: http://bit.ly/1ctRxrG
- Changes to the Transfer of Undertakings (Protection of Employment) (Tupe) regulations came into effect on 31 January. New rules include making it easier to change employees’ terms and conditions after a Tupe transfer, albeit in limited situations: http://bit.ly/MDWGZt
- Useful Links
- Employee Benefits Live
- Employee Benefits Awards
