CIPP response to consultation on alignment of dates for ‘making good’ on benefits-in-kind
05 October 2016
5 October 2016
It was announced at Budget 2016 that the government would consult on proposals to align the dates by which an employee has to make a payment to their employer in return for a benefit-in-kind they receive, in order to ‘make good’.
The aim is to have a simpler and clearer system that makes it easier for employers and employees to understand their obligations.
The CIPP’s Policy & Research team published a survey to gather views on the proposals which would inform the CIPP’s response to this consultation. Respondents were largely in favour of the suggestions, with the key findings being:
- 83% of respondents agreed that the date for making good for company cars, company vans and the other benefits-in-kind set out in the consultation document should be the end of the tax year.
- 90% agreed with the suggested date of 1 June following the end of the tax year as the making good date for car and van fuel benefit, credit tokens and beneficial loans.
- 88% of respondents agreed that interest paid after the benefit-in-kind has become final and conclusive should be taken into account for employer-provided loans.
You can download the CIPP’s full consultation response below.CIPP response to the consultation on alignment of dates for making good on BiKs - October 2016