What is your experience of Beneficial Loans? Policy Think Tank – Solihull

19 September 2016

CIPP Policy and Research team believe that no knowledge is ever wasted and a Policy Think Tank looks to ensure that the wealth of knowledge and experience that is held by CIPP full and fellow members can be harnessed to the full and for the benefit of the wider payroll community. The Subject of discussion and debate for the next Think Tank is Beneficial Loans and Voluntary Payrolling.

The CIPP Policy team along with HMRC would like to invite you to join us in Solihull on 23rd September 2016 when we will be holding a Think Tank which offers members an opportunity to discuss the subject of beneficial loans and voluntary payrolling.

Background

The government is currently considering extending voluntarily payrolling of benefits-in-kind to include employer-provided loans or “beneficial loans”.

As you may know, beneficial loans can only be reported using the P11D process following the end of the assessment year, with tax collected during the following assessment year in arrears. Due to the difficulties of payrolling loans, they were not included in the wider introduction of voluntary payrolling from April 2016.

HMRC are now considering the options available to include loans in payrolling and would like to ask if you could help us explore this further. Two particular areas they would like to discuss with members are:

  • Do you currently operate informal payrolling on beneficial loans? If not, why?
  • Would HMRC need to change the current valuation method to make payrolling more administratively simple?

Ideally, HMRC would like to speak to members who informally payroll beneficial loans already or at least offer beneficial loans to their employees. Members who want to offer loans, but don't because of the current system are also welcome.

It would also be valuable to speak to payroll providers who have been asked to provide software to payroll beneficial loans, or have experience of developing such software.

To encourage debate and participation, this CIPP Think Tank will take the form of a round-table forum, so numbers are strictly limited and places will be allocated on a first come, first served basis.

Date and time:

11am – 1pm Friday 23rd September 2016 (Registration from 10.30)

Host:

HMRC Offices, Solihull

Open to:

CIPP full and fellow members from industry sectors which may be particularly affected by this legislation

Timetable:

10.30 Registration

11.00 Open with introductions

11.15 Background and opening to discussion from HMRC

11.30 Roundtable discussion and debate

12.45 Conclusion and next steps

13.00 Close

If you would like to attend please email Policy  by no later than 21 September. Alternatively email Policy and send any comments, view or experiences that you would like to feed in to this discussion, please mark your email for the attention of Samantha Mann, Senior Policy & Research Officer and Policy lead for this roundtable.

Thank you.