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Do you have any taxable events in terms of Employment Related Securites to report? This is a last chance reminder: it takes up to 7 days to register and the spreadsheet for events in 2014/15 must be filed by 6 July 2015.
Companies are required to supply HM Revenue and Customs (HMRC) with an online return for each registered employment-related securities scheme or arrangement by 6 July following the end of the tax year, including details of any reportable events in the tax year. Before you can submit a return using the ERS Online Service you must be registered to use HMRC Online Services.
In Employment Bulletin June 2015 HMRC says that employer may provide employees with electronic versions of form P45.
Where, in the absence of any appeal, a person fails to respond to an Information notice under Schedule 36 FA 2008 they may become liable to penalties, as determined by HMRC. In cases of extreme default the Upper Tribunal may also impose tax geared penalties.
After a bit of a lull in tax news during the general election we are now going into overdrive. As usual we have cherry picked the best bits for SME advisers. I must apologise about the length of this time's edition, but stay with it: there are a lot of top tips, tax traps and tax cases reported this time which are worth a quick read through.