Don’t forget to declare coronavirus support payments on Company Tax Returns

Dear PAYadvice.UK, We want to make sure you have the latest information to help your clients to complete their Company Tax Return (CT600) accurately. How to include coronavirus support payments in your accounts and company tax return  Coronavirus grants and payments issued by HMRC to support businesses and self-employed individuals during the pandemic are taxable.  … Continue reading Don’t forget to declare coronavirus support payments on Company Tax Returns

February 2022 HMRC Employer Bulletin

HMRC publishes their Employer Bulletin online 6 times a year, providing employers and agents with the latest information on topics and issues that may affect them. In the February 2022 edition there are important updates and information on: PAYE Basic PAYE Tools ― new release Changes to our Employer Helpline processes Health and Social Care … Continue reading February 2022 HMRC Employer Bulletin

Over 10.2 million filed their Self Assessment by 31st January 2022

HM Revenue and Customs (HMRC) has confirmed that more than 10.2 million customers filed their 2020 to 2021 tax returns by the 31st January 2022 deadline. More than 630,000 filed on deadline day and the peak hour for filing was 16:00 to 16:59 when 52,475 completed their Self Assessment. There were 20,947 who completed their … Continue reading Over 10.2 million filed their Self Assessment by 31st January 2022

HMRC gives Self Assessment taxpayers more time to ease COVID-19 pressures

HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for one month – giving them extra time, if they need it, to complete their 2020 to 2021 tax return and pay any tax due. HMRC is encouraging taxpayers to file and pay on time if they can, … Continue reading HMRC gives Self Assessment taxpayers more time to ease COVID-19 pressures

HMRC to name tax avoidance promoters

Naming tax avoidance promoters As part of the approach to support taxpayers to steer clear, or move out, of tax avoidance HMRC plans to publish details of those involved in the supply of mass-marketed tax avoidance schemes and details of the schemes they are selling. This will enable taxpayers to spot avoidance schemes more easily … Continue reading HMRC to name tax avoidance promoters

Health and Social Care payslip message issued

On 7th September 2021, the government announced a new 1.25% Health and Social Care Levy to fund investment in the NHS and social care. The Levy will be effectively introduced from April 2022 when National Insurance Contributions (NICs) for working age employees, self-employed people and employers will increase by 1.25% and be added to the … Continue reading Health and Social Care payslip message issued

Agent view of Employer liabilities and payment for PAYE

The HMRC customer engagement team have provided the following in relation to payroll agents access to client information. Update on Agent view of employer liabilities and payments Rollout plan We are pleased to report that from Monday 1st November agents with up to 7,500 clients can now opt in to see employer liabilities and payments. What … Continue reading Agent view of Employer liabilities and payment for PAYE

HMRC Agent Update 89 has been published (October 2021)

Dear PAYadvice.UK, Agent Update: issue 89 is now available and contains the latest guidance and information for tax agents and advisers. This edition of Agent Update includes: •Coronavirus Job Retention Scheme •declaring coronavirus support schemes overpayments on company tax returns •Health and Social Care Levy •employers liabilities and payments for PAYE •updates to HMRC appeals processes. … Continue reading HMRC Agent Update 89 has been published (October 2021)

Reduce risk of using umbrellas who operate tax avoidance schemes

HM Revenue and Customs (HMRC) have issued new guidance to help agencies and employers reduce their risks of using umbrella employers who are operating tax avoidance schemes. Tax avoidance schemes Disguised remuneration schemes These schemes claim to prevent some payments being taxable. They describe taxable earnings paid for doing a job as something that is … Continue reading Reduce risk of using umbrellas who operate tax avoidance schemes

HMRC Agent Update 87 published (August 2021)

Dear PAYadvice.UK, Agent Update: issue 87 is now available and contains the latest guidance and information for tax agents and advisers. This edition of Agent Update includes: Coronavirus Job Retention Scheme VAT reverse chargeMaking Tax Digitalbasis period reform consultationEU settlement scheme. Just a reminder that Agent Update is now produced monthly, and your next issue is … Continue reading HMRC Agent Update 87 published (August 2021)

HMRC Agent Update 86 has been published

Dear PAYadvice.UK, Agent Update: issue 86 is now available and contains the latest guidance and information for tax agents and advisers. This edition of Agent Update includes: Coronavirus Job Retention Scheme VAT reverse chargeon-line print and post for VAT registrationsCorporate Interest Restriction. Agent Update: issue 86 Just a reminder that Agent Update is now produced … Continue reading HMRC Agent Update 86 has been published

Tax refund company complaints increase

The Low Incomes Tax Reform Group (LITRG) is concerned that some people who have used a tax refund company to get a PPI (payment protection insurance) or working from home tax refund are now discovering that unconnected tax refunds are also going to the refund company, with further fees being deducted. Deed of assignment! People … Continue reading Tax refund company complaints increase

HMRC Agent Update 85 has been published

Dear PAYadvice.UK Agent Update: issue 85 is now available and contains the latest guidance and information for tax agents and advisers. This edition of Agent Update includes: Coronavirus Job Retention Scheme Postponed VAT AccountingOff Payroll WorkingAgent Talking Points – have your say. Agent Update: issue 85 Just a reminder that Agent Update is now produced … Continue reading HMRC Agent Update 85 has been published