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Navigating the expenses tax minefield

Accountancy Age

THE TAX RULES underpinning employee expenses in the UK constitute a complex minefield that has not been updated since the 1990s. Central to this problem is the piecemeal fashion in which the system has been put together over the past 65 years. Coupled with the disconnect between income tax, National Insurance Contributions (NIC), taxation of employed and self-employed individuals. The Office of Tax Simplification (OTS) was established in 2010 to investigate ways to…

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