CH 17 - Introduction to PAYE

Question 1

How else can employer report benefits to HMRC excl. P11d?

Answer 1

An employer can register with HMRC to include taxable benefits (other than accommodation and beneficial loans) in the payroll.

(SI 2015/1927)

Question 2

Is readily convertible asset subject to PAYE?

Answer 2

Yes
along with cash payments and assets tradeable on a recognised exchange or where trading arrangement exist.

Question 3

What is the maximum amount of tax that can be collected from salary payment?

Answer 3

its 50% of the payment
except where tax is being deducted in respect of a readily convertible asset