Autumn Statement 2015: Taxation of living accommodation
The Chancellor presented his Autumn Statement and Spending Review earlier this afternoon. Two specific announcements were included in the report published by the Government which will be of interest to Independent Schools.
Taxation of living accommodation
Following the recommendations of the Office of Tax Simplification report which was published in 2014, the Government will be seeking further evidence concerning the current tax treatment of employer provided living accommodation.
Once the Government has called for this evidence, we at haysmacintyre will consult within the independent schools sector with a view to preparing our own response, and to assist clients who wish to make their own representations.
In the meantime whilst there have not been any changes to the legislation, all schools should review their current arrangements to ensure they are compliant with the prevailing tax and National Insurance legislation.
The Government will be taking forward a number of the recommendations included within the Office of Tax Simplification report which was published in March 2015. We are currently waiting to see what changes are to be made.
Further details will follow once the Government publishes its awaited papers.
Please get in touch with your usual haysmacintyre contact or Nick Bustin, Director of Employment Taxes, should you have any queries in the meantime.
Director of Employment Tax
T: +44 20 7969 5578