Pre-budget report 2006: Tax free relocation payments

Published at 11:26 AM on 06 December 2006

Gary Hull, director, PricewaterhouseCoopers LLP, said: “One thing the Chancellor could have done to support a more flexible and mobile workforce is to significantly raise the threshold for tax free relocation payments, currently languishing at £8000. The threshold has been at this level since 1993 when it would have covered all but high end relocations. Now, with escalating property and associated relocation costs, there is an added burden on employers to foot the bill for the tax costs above the threshold. “Raising it in line with either the Retail Price Index or increases in housing costs would be a popular and sensible move. It would also complement the Government’s strategy - announced by the Chancellor today - to increase the numbers of skilled workers in the UK from nine million to fourteen million by 2010 – as these are the workers more likely to need to move.”    ENDS

Notes to Editors:

1.PricewaterhouseCoopers experts are available on Pre-Budget Report day for comment and analysis. Please call the Pre-Budget hotline on 020 7213 4311 or visit www.ukmediacentre.pwc.com 


For more information contact:

Lydia Ruffles
Financial Services, PR Manager, PwC 
Tel:+44 (0)20 7212 1798 
Mobile:07966 319 780 
 

Gary Hull
PricewaterhouseCoopers LLP 
Tel:0161 247 4025 
Mobile:07710 397 763 

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