Since April 2013 and the introduction of RTI (Real Time Information), HMRC know exactly what each employer owes them every month and are quick to chase for late payments or apparent underpayments. We have seen many cases recently of our clients being sent demands for underpayments when in fact they have paid the correct amounts, […] Read more »
Child Benefit Change for High Earners
From 7th January 2013, any taxpayer earning more than £50,000 a year who receives Child Benefit, or whose partner receives Child Benefit, will be liable to incur a new income tax charge. Anyone who has to pay the charge will need to pay an amount equivalent to some or all of the Child Benefit that […] Read more »
Paye Late Filing Penalties
HMRC have addressed the concerns about the delay in informing employers of late PAYE end of year returns and subsequent penalties. In previous years, employers who did not file their annual P35 return by 19 May incurred penalties of £100 per 50 or fewer employees for each month that their return was late. In some […] Read more »
Tax Year End Preparations
The end of another tax year is approaching. This is a busy time for payrollers and there are numerous payment and reporting deadlines to be met if penalties are to be avoided. It is vital that employers and their agents understand what needs to be done and when, and that they have all the required […] Read more »
Autumn Statement 2011
Chancellor George Osborne delivered his Autumn Statement to Parliament on Tuesday 29th November. Since the March budget a number of consultation papers and discussion documents have been published by HMRC. Draft legislation relating to many of these areas will be published on 6th December 2011. Here are some of the proposals: Personal Tax for 2012/13 […] Read more »