Since the launch last month of RTI (Real Time Information), over one million employer PAYE schemes have transitioned from the old annual scheme. Using RTI means these employers will be reporting PAYE for their employees on each pay cycle rather than yearly. HMRC has exceeded their expectations by migrating so many employers across in just [...]
Saturday, April 6, 2013
Happy new year… well, new tax year that is! Yes today marks the start of the 2013/2014 tax year and as we wave goodbye to the end of 2012/2013, let’s start looking forward to some of the upsides the new tax year brings. Income Tax Changes For 2013/2014 People born after 6th April 1948 (Under [...]
Thursday, March 14, 2013
A consultation period launching from today until the end of July 2013 will see a pilot HMRC scheme to replace their Enquiry Centres with home or business based one-to-one support. Toward the end of the consultation, from June 2013, HMRC will launch the new, flexible support service, which should provide service to 1.5 million taxpayers. [...]
Monday, March 11, 2013
The Government is introducing a big change to the way welfare is administrated with the launch of Universal Credit next month. Designed to make being in work a more attractive proposition in comparison with the current system, which the Government argues can in circumstances make it more worthwhile to remain unemployed, Universal Credit merges the [...]
Monday, March 11, 2013
Employers need to get geared up for the launch of PAYE Real Time Information from April, now only weeks away. Employers have been receiving letters about RTI since October 2012, so should now be up to date with new systems and software. Under the new system, reporting of employee earnings will be made on every [...]
Monday, March 11, 2013
If you are earning over £60,000 and your family is receiving Child Benefit, you may wish to avoid the Higher Income Benefit Charge. The charge would need to be declared and collected via the tax return for the 2013/2014 tax year. To avoid being charged and cancel your Child Benefit, please visit www.hmrc.gov.uk/childbenefitcharge for instructions. [...]
Tuesday, March 5, 2013
A new campaign targeting profits made on non-main home property sales has been started by HMRC. Specifically targeting people who have sold homes, which are not the main home, either in the UK or abroad, having made a profit and then not declared the profits. In these circumstances the sales profits would almost certainly be [...]
Tuesday, February 19, 2013
850,000 people who have not as yet submitted a tax return to HMRC detailing income for the tax period 2011/2012, or were late making their filing, will be receiving a fixed £100 penalty fine in the post by tomorrow. 60,000 of the penalty letters are going to people who managed to submit their tax return [...]
Friday, February 1, 2013
A few figures have been released by HMRC for yesterday’s online tax return submission deadline. Around 10.6 million people were sent notices to complete a tax return for income during 2011/2012 tax year. 300,000 people requested their tax return to be cancelled as they did not have a reason to be self assessed. So, leaving [...]
Monday, January 28, 2013
Up until 28 February 2013, direct sellers are being given an opportunity to declare any undisclosed income and thereby bring their tax affairs up to date. Letters are being sent out today to notify people of the Direct Selling Campaign. Direct sellers are generally self-employed and include trade directly to customers which may be commission [...]
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Thursday, May 2, 2013
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