PT27 Treatment of Employment Income Quiz Flashcards
Cash payments including salary, bonuses
PAYE & class 1
Termination payments taxed under ITEPA 2003, s.62 (contractual payment for services) and PENP
PAYE & class 1
Termination payments taxed under ITEPA 2003,
s.401 (ex gratia) (excluding PENP) - first £30,000
None
Termination payments taxed under ITEPA 2003,
s.401 (ex gratia) (excluding PENP) - excess over £30,000
PAYE & class 1A
Payment/reimbursement of genuine business
expenses
None
Private expenses (including non-qualifying relocation
payments) - Reimbursed to Employee
PAYE & class 1
Private expenses (including non-qualifying relocation
payments) - Paid to supplier but arranged by employee (settlement of personal liability)
Only class 1 and it goes on a P11D
Private expenses (including non-qualifying relocation
payments) - Paid to supplier and arranged by employer
Class 1A and it goes on a P11D
Round sum allowances (unless it does no more than reimburse actual expenditure)
PAYE & class 1
Readily convertible assets (plc shares)
PAYE & class 1
cash vouchers
PAYE & class 1
non-cash vouchers
Class 1 only and goes on P11D
Asset surrenderable for cash (premium bonds)
PAYE & class 1
qualifying relocation payments in excess of £8,000
Class 1A and P11D
assets made available for private use
Class 1A and P11D
living accommodation (not job-related)
Class 1A and P11D
private medical insurance
Class 1A and P11D
assets transferred to employee
Class 1A and P11D
car and fuel benefit
Class 1A and P11D
van and fuel benefit
Class 1A and P11D
loan benefit (where more than £10,000)
Class 1A and P11D
loan written of
Class 1 and P11D
Reimbursement of incidental expenses when
working away from home within prescribed limits (£5UK £10Overseas)
None
Reimbursement of incidental expenses when working away from home exceeding prescribed limits
Payroll, P11D, Class 1 (double reported but not double taxed)
