New trivial benefits exemption scrapped
In a surprise move the new exemption for £50 gifts given to employees by employers for welfare or celebratory reasons has not made the Finance Act 2015. HMRC were notified by the Treasury last week that the measure would not be included in the Finance Act this year as had been widely expected. the new exemption was part of a package of measures recommended by the Office of Tax Simplification. The other elements of the package of reforms: the move to self-dispensation for business expenses, the introduction of voluntary payrolling and the abolition of the P9D form will go ahead in April 2016. It is understood the trivial benefit exemption may be carried forward to a future Finance Bill.