PAYE penalties for the tax year 2013-2014 will be notified by the issue of the first interim penalty notice in late September 2014 to those employers who failed to send their relevant return by 19 May deadline.
SME Tax News
The Government's proposal for Direct Recovery of [tax] Debts will allow HMRC a free hand to dip into taxpayer's bank accounts has met with united opposition from all of the tax and accountancy bodies. Simply put, HMRC makes too many mistakes to be trusted, and any power which allows the Government to circumvent the normal legal process of an open court hearing is not something that that a civilised Western society expects. Please sign the petition to stop this measure.
Chancellor George Osborne’s plans to raid people’s bank accounts are a “power too far” for the taxman and will damage innocent families and vulnerable people, according to a powerful new coalition calling for him to ditch the proposals.
The Chartered Institute of Taxation (CIOT) is calling for a permanent exemption for small employers for PAYE Real Time Information (RTI) reporting.
Settlement opportunity: tax on contractor loans. HMRC gave contractors who entered contractor loan schemes tax avoidance arrangements an opportunity to pay their tax and avoid penalties. This closed on 30 June 2015.
A new consultation, Office of Tax Simplification, review of unapproved share schemes: Marketable Security, makes recommendations which stand to reform the taxation of employment related securities.
Employee Shareholding Vehicle consultation. This idea was dropped in Novemeber 2014 due to lack of interest.
Accountants BKL have reported some confusion by a First Tier Tribunal judge over whether there is any legal requirement to use a proof of posting certificates when filing a tax return.
The Adjudicator's Office has published its report for 2014. Dame Judy Clements and her team resolved 2,311 complaints about HMRC, upholding a staggering 90% of complaints either partially or substantially.
HM Revenue and Customs (HMRC) have published a draft Statutory Instrument which proposes a highly controversial change to the 2003 PAYE Regulations: the ability for HMRC to change a PAYE tax code by stealth. It is not clear from any documentation why it needs to make this change.