From April 2018, the annual PPE renewal process has been simplified, so employers are not required to agree in advance on PPE with HMRC each year if the categories remain the same. According to the agreement, PSA will remain in force until either the employer or HMRC cancels or amends it. If you do not yet have a PSA and you miss this deadline, it is possible to make a voluntary disclosure and settlement for items that you would otherwise have included in PPE. However, in certain circumstances, HMRC may impose penalties and collect interest on amounts so paid. The exemption does not apply to expenses or benefits paid or provided under a wage sacrifice agreement. To qualify for an exemption, you must be either: PPE can save time compared to filling out P11D forms or including positions in the pay slip. Benefits in kind are goods or services that workers, including managers, or their families and households receive from their employer in addition to or instead of a salary or wage. BDO has extensive experience and knowledge in this area. If you have any questions, please contact your regular BDO advisor or Stephanie Wilson or Mark Seaden.
If you use the voluntary pay slip, you must inform your employee, before June 1 following the end of the fiscal year, which benefits have been set aside and what is the value of these benefits. . . .