.png)
.png)
HMRC has published Agent Update 103 (December 2022). It brings together the latest technical updates and reminders including the following.
It confirms that GOV.UK guidance has been updated for both employers and employees to reflect the reduction in the rate of National Insurance contributions from 6 November 2022 advising employers what to do if they are unable to charge the correct rate in NICs.
There is a reminder that overseas entities that own UK property must register by 31 January 2023. When registering entities must provide information about their beneficial owners and relevant trusts.
On VAT HMRC highlights that new VAT late submission and late payment penalties came into force from 1 January 2023. For businesses with accounting periods starting on or after 1 January the default surcharge has been replaced by new penalties when VAT returns are submitted or paid...
