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Going to the OpRA!

Going to the OpRA!

Jennifer Adams notes there are instances where choosing to take a benefit-inkind rather than salary may not produce a reduction in tax or National Insurance contributions for employee or employer. Remuneration comes in many guises, usually as salaries, bonuses or benefits-in-kind, all being subject to tax and National Insurance contributions (NICs) unless the payment or […]

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Update on the Process for Option to Tax Notifications

Update on the Process for Option to Tax Notifications

Changes in Acknowledgement Procedures As of 1st September 2022, HMRC has updated its process for acknowledging option to tax notifications. The previous system of issuing acknowledgement letters has been replaced with a new procedure, where a receipt letter is provided. This letter serves as confirmation that the option to tax notification has been successfully received

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