Class 4 National Insurance Contributions (NIC’s) – The main rate of Class 4 NIC’s will increase by 1% in 2018 & 2019, to 10% in April 2018 and 11% in April 2019.
Dividend allowance – The tax free dividend allowance will be reduced to £2,000 from April 2018.
Different forms of remuneration – The Government will consult on:
- Taxation of benefits in kind – review of exemptions and valuation methodology.
- Accommodation benefits – proposals to being the tax treatment of employer-provided accommodation and board and lodgings up to date.
- Employee expenses – a call for evidence to better understand the use of income tax relief for employees’ expenses.
Image rights – HMRC will publish guidelines for employers e.g. football clubs, who make payments of image rights to their employees.
Re-basing – as previously announced, those who become deemed domiciled in the UK at 6 April 2017, will be able to treat the base cost of their non-UK based assets as the market value of that assets on 5 April 2017. Re-basing is not available to individuals born in the UK with a UK domicile of origin.
source: PWC