HMRC have begun to issue penalties to employers who did not file their starter and leaver forms online in the period between 6 October 2011 and 5 January 2012. The penalties will range from £100 to £3,000 depending on the number of forms that should have been filed online. The penalties are triggered where an
The case of Sarah Cornes v HMRC [(TC01701], heard in November 2011) highlights what we are always saying to clients – if you have a problem paying your tax TALK to HMRC. This was a very sad case of a woman battling with personal and financial problems who tried to talk to HMRC in an
The honest answer is everything. The introduction of RTI is the biggest change in payroll since PAYE was first introduced. Under RTI employers will be required to return personal and payroll information about each employee as they make a payment to them. This will allow HMRC to track employees’ individual tax and earnings information real
Have you heard of the Office of Tax Simplification? Sounds like a joke doesn’t it, at best some clever oxymoron that someone made up in order to vent their frustration at the machinations of our tax system? Not even an original joke, you might think. As soon as I heard of it, I thought of
HMRC have fed back some of the conclusions that have emerged from the consultation process last year. Key facts are as follows:- Timescale has moved backwards (what a surprise) likely introduction will be between April and October 2012 Information will not now be processed via BACS as was initially mooted. Information will be fed in
In August 2011, the Department for Business Innovation and Skills (BIS) issued a discussion paper entitled Simpler Reporting for the Smallest Businesses. The BIS argues that small companies suffer from over-complex and burdensome reporting requirements that need simplification. The simplification proposals remain vague at the moment and are currently alongside the Office of Tax Simplification’s
According to an article in October’s Accountancy magazine HMRC have started issuing fines for late in-year PAYE/NICS payments in 2010-11. This is not about late payments after the year-end has been filed – these have always carried interest penalties. These new penalties have been raised where employers have consistently missed the monthly settlement deadline for
As agents and employers we are at that time of year once again when HMRC’s £400 penalty notices drop through the letterbox for failure to file year-end PAYE returns due 19th May. And once again, we are all left somewhat bemused by HMRC’s inability to produce these on a timely basis. Why can’t HMRC issue
Well, I have read and read and I still don’t know the answer to this one. Putting any moralising aside (I am rubbish at moralising) and looking simply at the maths it is kind of hard to argue against. Does a higher tax rate prove a demotivator for our “wealth creators” (whoever they are)? Well,
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Will I be better off in April?
0 Comments Posted by Niki on February 6th 2012 @ 2:13 pm
After all the changes in the last couple of years we are looking forward to a new tax year of pretty much “as you were” with just the odd tweak highlighted below. The steady march to £10,000 of tax free income by the end of this fixed term Parliament continues with another sharp increase in
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