How Finance Bill 13 will affect payroll professionals

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Diana Bruce
Senior Policy Liaison Officer
Chartered Institute of Payroll Professionals
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Following the Autumn Statement on 5 December, the government published the draft clauses for the Finance Bill 2013 for consultation, writes CIPP's Diana Bruce.

Many of the measures have already been consulted upon so there weren’t too many surprises in the 296 page document.  

To follow is a summary of the key elements which affect the payroll function, some indirectly, but those not in the payroll profession would be surprised by the variety of issues that are actually dealt with.

  • Tax status of Universal Credit
  • Cap on unlimited tax reliefs
  • Statutory residence test
  • Ordinary residence
  • Statement of practice 1/09 (SP1/09)
  • Pensions tax relief
  • Family pension plans
  • Income tax and national insurance contributions (NICs) reform
  • Employer supported childcare

Further information

Each clause of the draft Finance Bill 2013 is accompanied by a Tax Information and Impact Note (TIIN) which sets out what the legislation seeks to achieve and why the government is undertaking the change and a summary of the expected impacts; and an explanatory note which provides a more detailed guide to the legislation. Accompanying documents also include overviews and responses to various consultations held over the summer.

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