Expenses and Benefits For 2016/17 – Key Changes
The expenses and benefits landscape changed radically from 6 April 2016. From that date the £8,500 threshold – and with it the concept of a lower-paid employee – was abolished. As a result, for 2016/17 onwards the benefits code in its entirety applies to all employees and directors, regardless of their earnings level. Form P11D must now be used for all employees receiving benefits unless the benefits are payrolled. Contact us if you need help with the new regime.