CPDStore

Attend this webinar to get a head start on the transition to mandatory Payrolling of Benefits in Kind. The Autumn Budget, of 2024, heralded the confirmation that from 6^th April 2026, payrolling of employee Benefits In Kind would become mandatory for all employers. Pushback from industry, including software providers, resulted in a delay of one year until 6^th April 2027. However, employers will need to understand what this transition means for their employees, and what obligations they will have to their accountants and tax agents. Similarly, Accountants and Tax Agents will need to understand what this means for their Clients, and who will be responsible for managing the transition to the new process. A key piece in this puzzle moving forward, will be identifying who currently completes the reporting of benefits to HMRC, and how that activity will be successfully transitioned to those currently completing client payroll activity (assuming they do not already carry out payrolling of Benefits In Kind for the employer). Join us in gaining an insight into the complex investigations, discussions, and planning that may be required to successfully transition to mandatory Payrolling of Benefits In Kind by 6^th April 2027. 

In this session Ros Hendren will cover the following topics:

• Payrolling of Benefits In Kind – understanding what this means
• Current reporting process – identifying current responsibilities
• Ensuring compliance – highlighting potential issues, pitfalls, and penalties
• The transitional year – managing double duties
• Provision of information – the who, what, when, where, of the new requirements
• Class 1A NIC – potential impact on client cash flow
• Future revenue – potential impact on accounts and tax agents

By attending this session, you will gain an understanding of your clients’ new reporting obligations for Benefits In Kind from 6^th April 2027. Prompt preparation will ensure you will be in a position to promote your profile within your client/supplier relationships, by assisting them in completing a successful transition to HMRC’s new mandatory reporting requirements. Early intervention will enable proactive discussions around the impact of the potential required changes associated with governance, process, responsibilities, cash flow, and revenue. 

This session will be invaluable to accountants and tax agents looking to take the lead in assisting clients with the transition to mandatory Payrolling of Benefits in Kind from 6^th April 2027, thus helping ensure compliance, and avoidance of fines and penalties, as well as the necessary budgeting required to meet the new Class 1A NIC liabilities. Managing Partners will be prompted to investigate any potential impact on incoming revenue from their clients, and how any loss may be mitigated. Auditors will gain an insight into potential areas of risk to look out for and help mitigate. All employers (large and small alike), along with Director only businesses will benefit from understanding their responsibilities and obligations.

Course level: Need to know