12-04-2019

Guidance on how to manually calculate the Income Tax, National Insurance and student loan deductions due on the disguised remuneration loan charge has been published by HMRC on the Gov.uk website.

The loan charge arises on 5 April 2019 in the final pay period of 2019.

When you report your employee’s outstanding disguised remuneration loan balance you may need to use HMRC’s Basic PAYE Tools (BPT) to send an Earlier Year Update (EYU) submission.

You’ll need to calculate the tax, National Insurance and student loan deductions due. If your current payroll software product cannot perform these calculations for you, you’ll need to use the manual tax, National Insurance contributions and student loan tables.

See the guidance here

"I've booked the HR and Payroll Update course most years and during roles with at least 3 different employers. One thing remains the same; a course that is relevant, well delivered and enjoyable and that is key when trying to retain the many pieces of legislation changes to which payroll professionals are exposed."

Tracy Hinton
HR & Payroll Manager at Stemcor

View on Linkedin

Have a question?

Leave us your details or call us on 01798 861111

Ensure you're up to date and compliant

Are you happy for us to email you from time to time with payroll related information, legislation and updates?

Yes please, keep me up to date