Feeds

OFT intros simpler terms for Home Computing Initiative

Less red tape, no income tax liability

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

The Office of Fair Trading has cut at least some of the red tape tangling up employers trying to implement schemes which allow staff to work from home using company PCs.

OFT yesterday unveiled a consumer credit licence that will, for the first time, cover employers' Home Computing Initiative (HCI) schemes and allow firms to loan computer equipment to employees free of any income tax liability.

Under the terms of the Group Licence, OFT now considers the agreements between employers and employees participating in the schemes will be consumer hire agreements as regulated by the Consumer Credit Act 1974.

The OFT said employers will be covered by the group licence so long as they are undertaking activities within its terms.

However the government agency added that the Group Licence will cover only those agreements between "employers who provide or make available to their employee/s or a member of their employee/s' family or household, computer equipment under an employee benefit scheme designed to allow the employee to take advantage of any income tax exemption for that benefit, in particular that provided by Section 320 of the Income Tax (Earnings and Pensions) Act 2003."

Penny Boys, OFT executive director, said: "The group licence enables employers to provide home computing benefits to staff without requiring them to apply individually for a consumer credit licence for this purpose."

Whitehall is to launch guidelines next week for employers planning to implement HCI schemes on 19 Jan. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.