Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we’re here to help.

PAYE Online

HMRC intend to introduce a new online service for taxpayers who use PAYE to pay tax via their employer in April 2014. Features of the new system include enabling individuals to update a range of their benefits in kind online so they can keep their tax code up to date.

Internet link: To read more about these issues visit the HMRC website and search for Employer Bulletin 45. Please note this is a large pdf document

Autumn Statement

In a change to the original date, Chancellor of the Exchequer George Osborne, will now deliver the Autumn Statement on Thursday 5 December.

We will update you on pertinent announcements.

To read more on the gov.uk site, please click here

Updated Charity Guidance

HMRC have updated several areas of charity guidance. The updates cover:

  • ‘Gift Aid Small Donations Helpsheet’ – new helpsheet giving an overview of how the Gift Aid Small Donations Scheme works
  • Annex II: non-charitable expenditure – detailed guidance notes updated
  • Annex VIII: Tainted Charity Donations – detailed guidance notes updated

To read the updated guidance use the link below. If you would like any help in this area, please contact us.

Internet link: HMRC charity guidance

HMRC announcements for employers

The latest Employer Update issued by HMRC contains a number of pertinent articles which may be of interest to employers and employees:

  • Age Exception Certificates– HMRC will no longer issue age exception certificates to confirm that a person has reached State Pension age and therefore ceases to be liable to pay Class 1 NIC. HMRC advice is that employers will need sight of an employee’s birth certificate or passport as evidence of the person’s date of birth and retain a copy.
  • Automatic cancellation of PAYE schemes – from October 2013 if there has been no activity for a PAYE scheme, for example no RTI submissions, within 120 days of it being set up it will be automatically reviewed to see if it can be cancelled.
  • Employee shareholder status – HMRC is to offer employers the opportunity to apply for HMRC agreement (for tax purposes) to their share valuation which will hold for 60 days.

Internet link: To read more about these issues visit the HMRC website and search for Employer Bulletin 45. Please note this is a large pdf document.

HMRC announce another disclosure facility

HMRC have launched yet another disclosure facility, the Health and Wellbeing Tax Plan, which runs from 7 October 2013 to 6 April 2014 and is aimed at physical therapy, alternative medicine or therapy and other therapy.

Notification is required by 31 December 2013 and disclosure and payment by 6 April 2014.

If you have any concerns in this area please do get in touch.

Internet link: HMRC publications

Let Property Campaign

HMRC have announced a new campaign designed to target landlords in the residential property market. The campaign offers landlords in this sector a chance to get their tax affairs up to date or put right any errors they have made and then remain compliant.

HMRC have set up a Let Property Campaign Hotline on 03000 514479 but please do get in touch if you have concerns in this area.

Internet link: HMRC campaigns

NIC Employment Allowance

The Chancellor announced the creation of a National Insurance Contributions (NIC) Employment Allowance in the 2013 Budget. This is expected to be introduced from 6 April 2014 and this moved a step closer to becoming law with the First Reading of the Bill on 14 October 2013.

Businesses, Charities and Community Amateur Sports Clubs will be able to reduce their Employer Class 1 NICs bill by up to £2,000 per year.

HMRC plan to release more details on how to claim the Employment Allowance in the New Year and we will keep you informed of developments.

Internet link: HMRC news