News

Changes to the code of practice on taxation for banks are set for Finance Bill 2014, following a consultation on strengthening regime

The key changes:

Revised data for previous year means a fall of just 0.1%

Workers and employers in the tax sector have been offered a boost by the results of the latest UK salary survey from recruitment firm Pure, which has tentatively predicted a rise in staffing levels.

A new digital service for taxpayers in the PAYE system is set to be launched in April 2014 – and HMRC are looking for people willing to help with testing.

The department wants the help of workers with business vehicles and employers who have staff with company cars:  the initial version of the service enables users to tell the Revenue about changes to company vehicles and fuel benefits.

Email an application to take part, including business location in the subject box.

Brief issued following ITV decision by appeal court

Married tax break

Married couples and civil partners will be able to transfer up to £1,000 of their personal allowance to their partner from 2015/16. HMRC say their “current working assumption” is they will deliver the break through end-of-year processes in the first period, after which “people will receive [the allowance] through their tax codes”. The Treasury expects 4m couples to qualify.

The scope and operation of the listed places of worship grant scheme have been revamped, enabling a wider range of locations to be eligible.

The revisions make suitable works to pipe organs, turret clocks, bells and bell ropes. Professional services directly related to eligible building work, such as architect fees, are also now entitled to enter into the grant scheme. 

Business body calls for simplified system

Minimum wage rates revised

The rates of national minimum wage applicable to pay reference periods starting on or after 1 October 2013 are:

• the main rate (for workers 21 and over) will increase by 12p to £6.31 an hour;
• the rate for 18 to 20 year olds will increase by 5p to £5.03 an hour;
• the rate for 16 to 17 year olds will increase by 4p to £3.72 an hour;
• the rate for apprentices will increase by 3p to £2.68 an hour.

From the same date, the daily accommodation offset rate will increase from £4.82 to £4.91.

HMRC have introduced cheaper telephone numbers have been introduced for areas including corporation tax, trusts and estates, tax credits, and retirement annuity contracts. The new helplines will reduce the cost of calling for most people.

HMRC are set to introduce a series of new notifications aimed at helping employers manage their PAYE affairs and avoid penalties. Four types of generic messages will be sent to employers:

Strictest safeguards may not protect identities, warns CIOT president