Hi. Please can someone provide some information on Tax Award Schemes (TAS)? A client has provided its staff with non-cash vouchers during the last tax year as a reward/incentive. Unfortunately, a PAYE Settlement Agreement (PSA) is not in place and a PSA wouldn't apply retrospectively for non-cash vouchers although this could be applied for in respect of future vouchers. My question is can the client apply for a TAS retrospectively for 2014/2015 or does a TAS also have to be applied for in advance of the rewards? If not, and the client doesn't want the staff to suffer the tax, is there an alternative to paying the staff a bonus sufficient to cover the tax liability they will incur on submission of the P11Ds?
28th May 2015
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Tax Award Schemes
Tax Award Schemes