...ERSS bulletin; landlords; updated guide; CWG2 amended; universities’ VAT
Carr: corporate tax planning is about “responsible judgement”
HMRC have issued clarification of the requirements of operating annual PAYE schemes in the real-time information (RTI) system.
The Revenue is unable currently to process requests from employers hoping to move to paying annually and register as an annual scheme, or to change their payment frequency. The publish a message on its website when the issue has been fixed.
For a PAYE scheme to be considered annual, it must meet the following requirements.
European finance ministers have settled the mandate for the European Commission to negotiate stalled tax transparency agreements with countries including Switzerland and Liechtenstein, in a critical step towards confirming the amended Savings Directive and establishing greater levels of automatic tax information exchange in the European Union (EU).
Letter from office chair Jacks offers corrections
HMRC hopes to replace class 1 with 2 and 4
Attack on schemes threatens growth, warns tax expert
President Coleclough criticises government's “slapdash approach”
"UK should stretch its lead over other business-friendly economies"
Employers who took part in the real-time information (RTI) pilot will be sent their 2012/13 return of Class 1A National Insurance contributions forms P11D(b) and payslips in early July, rather than the usual April.
The delay means some trialist firms may not receive the documents in time to complete and return them by the filing deadline of 6 July 2013 – but HMRC will not levy late-filing penalties provided the department receives the 2012/13 form P11D(b) no later than 19 July 2013.
...charities online; offshore funds; PAYE notification
Companies that offer HMRC-approved employee share schemes must complete the relevant returns by 8 July 2013.
The deadline for sending the enterprise management incentive annual return is 6 July 2013 – which is also the cut-off date for submissions of form 42 by employers with unapproved schemes who experienced reportable events in 2012/13.
Download the exclusive Xero
free report here.
