Why does the UK tax year start on 6th April each year? Well, it used to be New Year’s Day! … Continue reading Happy New (Tax) Year – 6th April 2022
Happy New (Tax) Year – 6th April 2022
Category: Taxation
SPRING BUDGET SPECIAL 2022-23 WITH SIMON PARSONS #79
Nick Day is joined on The Payroll Podcast by Simon Parsons M.Sc FCIPPdip MBCS, Director UK Compliance Strategies at SD … Continue reading SPRING BUDGET SPECIAL 2022-23 WITH SIMON PARSONS #79
Income tax drop to 19% in 2024 brought forward to 2023 and then cancelled
As part of the Spring Statement 2022 announcement, the Chancellor, Rishi Sunak, announced that in 2024 when the rate of … Continue reading Income tax drop to 19% in 2024 brought forward to 2023 and then cancelled
Spring Statement 2022
Dear PAYadvice.UK, The Chancellor made his annual Spring Statement speech today where he set out the Government’s tax plan to … Continue reading Spring Statement 2022
5p cut in fuel duty
What has been announced As part of the government spring statement, Rishi Sunak has confirmed that there is a cut … Continue reading 5p cut in fuel duty
Payroll surprise in spring statement
As part of the Spring Statement 2022 given on Wednesday 23rd March 2022, the government announced a change to National … Continue reading Payroll surprise in spring statement
April 2022 – New Tax Year resources
PAYadvice endeavours to keep you as up to date as possible with the latest and developing changes impacting payroll and … Continue reading April 2022 – New Tax Year resources
HMRC interest rate changes
HMRC interest rates for late payments are revised following the Bank of England interest rate rise to 0.75%. The Bank … Continue reading HMRC interest rate changes
Scammers targeting Self Assessment
HMRC warning to be on their guard as scammers target unsuspecting Self Assessment filers to try and steal money or … Continue reading Scammers targeting Self Assessment
COVID tax easement for those affected by travel restrictions ending
In 2020 HMRC introduced guidance indicating that non-UK resident employees stranded in the UK because of coronavirus travel restrictions would … Continue reading COVID tax easement for those affected by travel restrictions ending
Fraudsters seek to hijack personal tax accounts
HM Revenue and Customs (HMRC) is warning tax payers not to share sensitive personal information online to avoid their identities … Continue reading Fraudsters seek to hijack personal tax accounts
One week to file your Self Assessment return
About 1.5 million have just one week left to complete their late Self Assessment tax return. Time is running out … Continue reading One week to file your Self Assessment return
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 … Continue reading February 2022 HMRC Employer Bulletin
100,000 spread their Self Assessment tax bill
Almost 100,000 Self Assessment filers have used online payment plans to spread the cost of their tax bill into manageable … Continue reading 100,000 spread their Self Assessment tax bill
HMRC late payment interest rates to be revised
The Bank of England Monetary Policy Committee voted on 2nd February 2022 to increase the Bank of England base rate … Continue reading HMRC late payment interest rates to be revised
HMRC issue new guidance to operate from 6th April 2022
By PSP (c)2019 HM Revenue and Customs has updated guidance and instructions in preparation to be operated from 6th April … Continue reading HMRC issue new guidance to operate from 6th April 2022
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 … Continue reading Over 10.2 million filed their Self Assessment by 31st January 2022
Campaigners call for urgent action on diversion of tax refunds
In light of reports of problems from taxpayers that are increasing in both number and seriousness, the Low Incomes Tax … Continue reading Campaigners call for urgent action on diversion of tax refunds
Tax refund companies under fire for high fees
People are losing out on hundreds of pounds after being enticed into using third-party companies to claim tax rebates instead … Continue reading Tax refund companies under fire for high fees
HMRC responds to claims
HMRC, 100 Parliament Street Responses to myths, misconceptions and inaccurate stories or claims about HMRC. HM Revenue and Customs (HMRC) … Continue reading HMRC responds to claims
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 … Continue reading HMRC gives Self Assessment taxpayers more time to ease COVID-19 pressures
HMRC fraud squad takes back £1 billion from offenders
More than £1 billion has been recovered from the proceeds of crime and tax offenders since the formation of a … Continue reading HMRC fraud squad takes back £1 billion from offenders
2,828 ’elf Assessments filed on Christmas Day
More than 31,000 Self Assessments submissions for the 2020 to 2021 tax year over the festive period. HM Revenue and … Continue reading 2,828 ’elf Assessments filed on Christmas Day
Trusted and modern: HMRC’s vision for the future
The Rt Hon Lucy Frazer QC MP Location: HMRC’s Regional Centre in Stratford.Delivered on: 6th December 2021 (Transcript of the … Continue reading Trusted and modern: HMRC’s vision for the future
Welsh Devolved Taxes and Welsh Rates of Income Tax – Draft Budget 2022-2023
Welsh Rates of Income Tax The draft Budget assumes the three Welsh Rates of Income Tax (basic, higher and additional) … Continue reading Welsh Devolved Taxes and Welsh Rates of Income Tax – Draft Budget 2022-2023
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 … Continue reading HMRC to name tax avoidance promoters
HMRC late payment interest rates to increase
HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25%. The … Continue reading HMRC late payment interest rates to increase
Crackdown on directors who dissolve companies to evade debts
Rogue directors who dissolve companies and avoid paying liabilities to staff, creditors and the taxpayer can now be disqualified from … Continue reading Crackdown on directors who dissolve companies to evade debts
HMRC December 2021 Employer Bulletin
HMRC have issued the December 2021 Employer Bulletin, again, packed full with information. In this month’s edition of the Employer … Continue reading HMRC December 2021 Employer Bulletin
Scottish budget 2022-2023 sets out Scottish Income Tax changes
The following is extracted from the document Scottish Budget: 2022-23 issued alongside the budget delivered on 9th December 2021. The … Continue reading Scottish budget 2022-2023 sets out Scottish Income Tax changes
Call for Evidence: umbrella company market
The government has published a call for evidence on the umbrella company market. Umbrellas - what are they? Umbrella companies … Continue reading Call for Evidence: umbrella company market
Steps to modernise and simplify UK tax system
As part of Tax Administration and Maintenance Day the government has set out more detail on work to deliver a … Continue reading Steps to modernise and simplify UK tax system
Check on illegal working practices in the security industry
The Security Industry Authority (SIA) and HMRC have carried out joint operations in London, Bradford and Glasgow last week to … Continue reading Check on illegal working practices in the security industry
Child Care Vouchers – 2022/2023 Basic Earnings Assessment Calculator
Employer who provide childcare vouchers to employees are required to undertake an annual Basic Earnings Assessment (BEA) prior to the … Continue reading Child Care Vouchers – 2022/2023 Basic Earnings Assessment Calculator
Tax Administration and Maintenance Day – 30th November 2021
A Tax Administration and Maintenance day (TAMD) will take place on 30th November 2021.Consultations for announcements made at Autumn Budget … Continue reading Tax Administration and Maintenance Day – 30th November 2021
Self Assessment – Don’t be scammed!
800,000 tax-related scams were reported in the last 12 months HM Revenue and Customs (HMRC) is preparing to issue emails … Continue reading Self Assessment – Don’t be scammed!
Just some extra cash!
HM Revenue and Customs (HMRC) are reminding individuals that obtaining additional income from various sources may need to be declared … Continue reading Just some extra cash!
Drivers miss out by not renewing licences online
New figures released by DVLA show that drivers missed out on £2.3 million of savings by not renewing their photocard … Continue reading Drivers miss out by not renewing licences online
Legislation update 2022 for payroll
Following the successful Legislation update 2021 for payroll by PAYadvice.UK with 19,500 hits and downloads since its launch at the … Continue reading Legislation update 2022 for payroll
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 … Continue reading Agent view of Employer liabilities and payment for PAYE
PAYadvice.UK publishes its 1000th post
WordPress has congratulated PAYadvice.UK on its 1,000th post. at the same time the number of hits of its news pages … Continue reading PAYadvice.UK publishes its 1000th post
Powers to make temporary modifications to employment taxation
According to HM Treasury, COVID-19 has highlighted the limited scope to make changes to the current benefits in kind and … Continue reading Powers to make temporary modifications to employment taxation
Van benefit charge and fuel benefit charges for cars and vans from 6 April 2022
As part of the Autumn Budget 2021, the following has been announced: Who is affected? Employers and employees: where employers … Continue reading Van benefit charge and fuel benefit charges for cars and vans from 6 April 2022
Clamping down on tax avoidance
As part of the Autumn budget 2021 announcements, the government are progression new measures to clamp down on promoters of … Continue reading Clamping down on tax avoidance
Dividend tax increase April 2022
Since April 2016, the rates of Income Tax applicable to dividend income have been 7.5%, 32.5% and 38.1% for basic, … Continue reading Dividend tax increase April 2022
Pension tax relief response – new NPA top-up
Following concerns expressed to government on a purported tax relief anomaly between the Net Pay Arrangement where tax relief at … Continue reading Pension tax relief response – new NPA top-up
Self Assessment countdown begins
There are 100 days to go until the deadline for online tax returns on 31st January 2022. Last year, 96% … Continue reading Self Assessment countdown begins
SEISS
As Self-Employment Income Support Scheme (SEISS) grants are taxable, these should be declared on the tax return. Advice for those … Continue reading SEISS
Action – final Job Retention Scheme claims
HMRC are contacting employers with the latest information about the closure of the Coronavirus Job Retention Scheme (CJRS). The Coronavirus … Continue reading Action – final Job Retention Scheme claims
Start preparing now for Payrolling benefits 2022/2023
HMRC is encouraging employers to consider payrolling the expenses and benefits they pay to staff. The advantages of payrolling expenses … Continue reading Start preparing now for Payrolling benefits 2022/2023
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. … Continue reading HMRC Agent Update 89 has been published (October 2021)
HMRC October 2021 Employer Bulletin
HMRC have issued the October 2021 Employer Bulletin, again, packed full with information. In this month’s edition of the Employer … Continue reading HMRC October 2021 Employer Bulletin
Improperly obtained bounce-back loan
The traffic commissioner for the West Midlands, Nick Denton, recently held a public inquiry into Mafuwer Logistics Ltd. The company … Continue reading Improperly obtained bounce-back loan
Get ready for Self Assessment
The deadline to complete a tax return for the 2020 to 2021 tax year is approaching. HM Revenue and Customs … Continue reading Get ready for Self Assessment
Prisoners recycle bikes for hospital staff
Prison programme encourages inmates to repair and recycle over 900 bikes for hospital staff and children from disadvantaged backgrounds, helps … Continue reading Prisoners recycle bikes for hospital staff
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 … Continue reading Reduce risk of using umbrellas who operate tax avoidance schemes
Furlough – the Ending credits of an epic
In early 2020, the world was introduced to the ‘furlough’ word as UK PLC closed down with 80% wages covered … Continue reading Furlough – the Ending credits of an epic
Money Laundering Consultations launched
HM Treasury have published two consultations in relation to Anti-Money Laundering: 1. Changes to the Money Laundering Regulations 2. Reviewing … Continue reading Money Laundering Consultations launched
Need to register for self assessment?
HMRC are reminded those who need to undertake self-assessment this time that didn’t need to last time need to register … Continue reading Need to register for self assessment?
Tax gap low at 5.3%
The HMRC annual Measuring Tax Gaps publication estimates the difference between the total amount of tax expected to be paid … Continue reading Tax gap low at 5.3%
Submit August claims, prepare for closure of the Job Retention Scheme and the latest on SEISS
Dear PAYadvice.UK , I’m writing to you with the latest information about the support schemes available to help your clients, as … Continue reading Submit August claims, prepare for closure of the Job Retention Scheme and the latest on SEISS
New 1.25% Health and Social Care Levy – National Insurance and Dividends
Prime Minister pledges to tackle NHS Covid backlogs and cut waiting times with £36 billion for health and social care‘Responsible, … Continue reading New 1.25% Health and Social Care Levy – National Insurance and Dividends
Childcare cost help as children head back to school
Families may be eligible for Tax-Free Childcare to help pay for breakfast and after school clubs as children go back … Continue reading Childcare cost help as children head back to school
Off-payroll (IR35) contracted out services
Off-payroll working rules (commonly known as IR35) changed on 6th April 2021. In efforts to overcome IR35 responsibilities some arrangements … Continue reading Off-payroll (IR35) contracted out services
Using unfunded pension arrangements
In the agent update 87, the HMRC remind agents about an arrangement where a company creates an unfunded pension obligation … Continue reading Using unfunded pension arrangements
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. … Continue reading HMRC Agent Update 87 published (August 2021)
Actions for you and your clients – preparing for closure of the Job Retention Scheme and the latest on SEISS
Dear PAYadvice.UK I’m writing to you with the latest information about the support schemes available to help your clients, as … Continue reading Actions for you and your clients – preparing for closure of the Job Retention Scheme and the latest on SEISS
New HMRC Director General announced for Customer Strategy and Tax Design
HM Revenue and Customs Chief Executive and Permanent Secretary Jim Harra announces that Jonathan Athow has been appointed as the … Continue reading New HMRC Director General announced for Customer Strategy and Tax Design
HMRC August 2021 Employer Bulletin
HMRC have issued the August 2021 Employer Bulletin, again, packed full with information. In this month’s edition of the Employer … Continue reading HMRC August 2021 Employer Bulletin
TUC urges ban on umbrella companies – end exploitation of workers amid scandalous workplace practices which have “no place in modern Britain”
Union body warns use of umbrella companies could spiral post-pandemic New TUC research estimates that half of agency workers work … Continue reading TUC urges ban on umbrella companies – end exploitation of workers amid scandalous workplace practices which have “no place in modern Britain”
Only a few days left to renew tax credits – act now
Tax credits claimants have until 31st July to renew their tax credits claim or risk their payments being stopped. If … Continue reading Only a few days left to renew tax credits – act now
Simplified tax reporting for self-employed and small businesses
Reforms to the tax system that will make it easier for small businesses to fill out their returns have been … Continue reading Simplified tax reporting for self-employed and small businesses
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 … Continue reading HMRC Agent Update 86 has been published
HMRC’s performance during a unique year
PSP (c)2019 HMRC have issued the following news story (13th July 2021) relating to the departments performance. “Published 13 July … Continue reading HMRC’s performance during a unique year
Extended Loss Carry Back
Extended Loss Carry Back – help for businesses The Extended Loss Carry Back measure announced at Budget 2021 allows businesses … Continue reading Extended Loss Carry Back
Motorists warned of websites charging a premium for free DVLA services on GOV.UK
DVLA has been contacted more than 1,200 times since January 2020 by customers who have paid more for services than … Continue reading Motorists warned of websites charging a premium for free DVLA services on GOV.UK
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 … Continue reading Tax refund company complaints increase
Almost 800,000 tax relief claims for working from home
Employees who have worked from home during the pandemic but are now returning to offices can still claim tax relief … Continue reading Almost 800,000 tax relief claims for working from home
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 … Continue reading HMRC Agent Update 85 has been published
HMRC June 2021 Employer Bulletin
HMRC have issued the June 2021 Employer Bulletin, again, packed full with information. In this month’s edition of the Employer … Continue reading HMRC June 2021 Employer Bulletin
Payroll boss in tax avoidance scheme 11-year ban
Leicester payroll services boss banned for orchestrating multi-million pound tax avoidance scheme, while failing to justify £37 million expenditure in … Continue reading Payroll boss in tax avoidance scheme 11-year ban
OTS to explore potential for moving the end of the tax year
The Office of Tax Simplification (OTS) is the independent adviser to government on tax simplification, challenging tax complexity to help … Continue reading OTS to explore potential for moving the end of the tax year
G7 Agrees Historic Global Tax Agreement
The G7 has agreed (5th June 2021) to back an historic international agreement on global tax reform which delivers on … Continue reading G7 Agrees Historic Global Tax Agreement
RTI data and Tax avoidance
Question To ask the Chancellor of the Exchequer, whether HMRC uses real time information to close down tax avoidance schemes. … Continue reading RTI data and Tax avoidance
Statutory Payments from the deemed employees intermediaries
HM Revenue and Customs (HMRC) have published new guidance on Monday 24th May 2021 which explains how intermediaries can calculate … Continue reading Statutory Payments from the deemed employees intermediaries
Supply chain due diligence to assure labour supply chains
HMRC have issued guidance (13th May 2021) to both and help warn business to be aware of risks within Labour … Continue reading Supply chain due diligence to assure labour supply chains
63,500 file Self Assessment on first day of tax year
More than 63,500 filed their 2020 to 2021 tax return online on 6 April 2021 and almost 950,000 online Self … Continue reading 63,500 file Self Assessment on first day of tax year
Working from home? Claim tax relief for 2021 to 2022 tax year
More than half a million people have claimed the working from home tax relief this tax year and are already … Continue reading Working from home? Claim tax relief for 2021 to 2022 tax year
Mini Umbrella Company (MUC) fraud
HMRC have issued information on fraud being committed by a number of Mini Umbrella Companies. HMRC claim that every business … Continue reading Mini Umbrella Company (MUC) fraud
HMRC publish guidance for those employed by umbrellas
HMRC have published further guidance (29th April 2021) to clarify the position on agency and contractors who are employees of … Continue reading HMRC publish guidance for those employed by umbrellas
The Financial Secretary to the Treasury, Jesse Norman, reflects on the achievements of the past year and highlights the priorities for the future of the tax system.
The Rt Hon Jesse Norman MP, Financial Secretary to the Treasury, spoke at the annual HMRC stakeholder conference on Wednesday … Continue reading The Financial Secretary to the Treasury, Jesse Norman, reflects on the achievements of the past year and highlights the priorities for the future of the tax system.
Changes to termination payments and post-employment notice pay (PENP)
Background Changes were made to the taxation of termination payments in Finance (No.2) Act 2017, with effect from April 2018 … Continue reading Changes to termination payments and post-employment notice pay (PENP)
Job Retention Scheme guidance updated 22nd April 2021
With the Coronavirus Job Retention Scheme celebrating its 1 year opening with 8.9 million furloughed at one time, HMRC have … Continue reading Job Retention Scheme guidance updated 22nd April 2021
Consultation on ‘Raising standards in the tax advice market: professional indemnity insurance and defining tax advice’
Dear Payadvice.U.K. Our consultation on 'Raising standards in the tax advice market' was published on 23rd March 2021. This is … Continue reading Consultation on ‘Raising standards in the tax advice market: professional indemnity insurance and defining tax advice’
One-third of Scots unaware of Holyrood’s tax changes as tax and accountancy bodies call for increased awareness of devolved taxes
The Chartered Institute of Taxation (CIOT) and ICAS (the Institute of Chartered Accountants of Scotland) are calling on Scotland’s political … Continue reading One-third of Scots unaware of Holyrood’s tax changes as tax and accountancy bodies call for increased awareness of devolved taxes
‘Umbrella’ companies under the spotlight
The Low Incomes Tax Reform Group (LITRG) has published a research report looking at the use of ‘umbrella’ companies and … Continue reading ‘Umbrella’ companies under the spotlight
Want to Payroll Benefits In Kind (PBIK) and not issue P11Ds anymore?
Register for payrolling benefits and expenses If your considering payrolling benefits and expenses from April 2022, they need to register. … Continue reading Want to Payroll Benefits In Kind (PBIK) and not issue P11Ds anymore?
HMRC April 2021 Employer Bulletin
HMRC have issued the April 2021 Employer Bulletin, again, packed full with information. In this month’s edition of the Employer … Continue reading HMRC April 2021 Employer Bulletin
Cycle training for families and children
As COVID-19 restrictions lift, Transport Secretary invests in the Bikeability cycling proficiency training scheme so that more people can feel … Continue reading Cycle training for families and children
Why does the new tax year start on 6th April?
Why does the tax year start on 6th April each year? Well, it used to be New Year’s Day! In … Continue reading Why does the new tax year start on 6th April?