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EIS approval
The European Commission has approved for state aid purposes the increase in the enterprise investment scheme (EIS) income tax relief rate to 30% in respect of investments made in EIS qualifying companies on or after 6 April 2011. It has also approved the individual investment limit from £500,000 to £1m in respect of investments made on or after 6 April 2012. Both changes were announced in Budget 2011 and the rate increase was incorporated in FA 2011. The increase in the individual investment limit will be included in Finance Bill 2012.
Agent copies
In 2010, agent copies of some forms, including forms P800, SA250 and SA251, were withdrawn by HMRC. Since then, as a result of feedback from the agent community, HMRC have decided to retain agent copies of forms P800, SA250 and SA251.
Overseas expenses
HMRC have updated the list of rates for expenses payments that can be made to employees travelling outside the UK without deduction of tax.
PAYE due date
Payment of 2011/12 PAYE/Class 1 National Insurance due for month 06 is due on 22 October. As this falls on a Saturday, employers need to have cleared funds in the HMRC account by 21 October.
