04 March 2024
With the news that HM Revenue and Customs (HMRC) plan to mandate the payrolling of benefits from April 2026, the policy team wanted to know if this changed your current plans?
In preparation for the changes, we asked if you planned to start payrolling, payroll more benefits or if you would wait until the mandation. Here are the results:
|
Answer |
% responded |
|
No, already payroll all benefits |
27.5 |
|
No, will only change processes when mandated |
26 |
|
Yes, will payroll benefits for the first time |
18 |
|
Unsure |
13 |
|
Yes, will payroll more benefits |
13 |
|
No, because we provide loans and accommodation |
2.5 |
As we can see, many businesses already payroll all benefits. Therefore, without a process change from HMRC, no changes need to be made.
Next up, with almost the same number of responses, were 26% of respondents who will not change until they are made to. Conversely to this, 18% of you will be payrolling benefits for the first time next year. Remember, you have until 5 April 2024 to notify HMRC you wish to do this.
For the 2.5% of you that process beneficial loans or accommodation, you will have to wait until changes are brought in to resolve the legislative roadblock to payrolling benefits.
Thank you for responding to our Quick Poll, your insight is invaluable. Please keep an eye out for the next one which is live now in the side bar on the New Pages.
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