The Pensions Regulator has announced plans for a new auto-enrolment solution to help employers that currently use HMRC’s basic PAYE tools.
The proposals, set out in a consultation document, explain how pensions officials would prefer for employers to buy appropriate payroll software, rather than rely on the Revenue’s free offering, which will not be updated to provide automatic enrolment functionality.
Advisers must prepare for the challenges that lie ahead
Digital accounts will reduce the administrative burden of tax currently faced by millions of individuals and small businesses, according to the financial secretary to the Treasury, David Gauke.
Pros and cons of the proposed digital accounts for taxpayers
HMRC plan to publish new pensions guidance in draft form in early spring. The Pensions Tax Manual (PTM) will replace the current Registered Pension Schemes Manual (RPSM).
The transition of Revenue pensions content to GOV.UK means some RPSM guidance aimed at scheme members and their advisers, employers and scheme administrators appears on the pension pages of the government web hub.
Tax advisers are being invited to share their views on prototype pages of HMRC’s planned agent online self-serve (AOSS) offering.
The Revenue has published a series of screenshots, which show what agents might do to confirm their client lists are accurate and how they could view the PAYE accounts of employer clients.
The price of late-filed returns and failure to pay tax on time
HMRC’s increased reliance on digital
Almost one-third of a million taxpayers will receive self assessment (SA) reminders before the end of the month.
HMRC are sending 650,000 emails ahead of the 31 January deadline to people who are yet to file their returns online or pay the tax owed.
The messages follow the launch of the Revenue’s fully digital SA service that provides real-time digital alerts with direct links to returns, guides and tools on GOV.UK. More than 670,000 individuals have already opted to go paperless next year, according to tax officials.
Z Hegedus (TC4142)
HMRC’s civil penalty system is working in line with its objectives but cannot be shown to be encouraging positive behavioural change in taxpayers, according to the Office of Tax Simplification (OTS).
The announcement follows a short research project by the office that focused on inconsistencies in the application of the fines and found them to be appropriate for the increasingly digitised nature of the tax system.
R and A Heler (TC4014)