Reporting benefits provided after retirement

From 6 April 2006 non-cash benefits provided to a former employee who has retired from the employment may be taxable in the same way as cash benefits. The benefits are treated as employment income in the hands of the former employee unless the overall value of the benefits is no more that 100. The charge relates to employer-financed retirement benefit schemes (EFRBS). It does not apply to benefits from any registered pension scheme.

more from Pensions

Important changes in the 2008 Pensions Act
There have been several major changes in the field of pensions brought about by the 2008 Pension Act. The most significant of these changes however, is a new compulsory pension scheme.
Pension Schemes - how to avoid a headache
Pension Schemes - how to avoid a headache
Reporting benefits provided after retirement
Reporting benefits provided after retirement
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