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HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Reporting your payroll information accurately and on time   Irregular payments and completion of Full Payment Submissions Starter Declaration on a Full Payment Submission (FPS) PAYE Settlement Agreements and Scottish Income Tax National Liv ...

HMRC has launched a consultation on draft proposals to ban pensions cold calling. Under the proposals, unsolicited marketing calls relating to pensions could be banned, alongside cold calls that offer a ‘free pension review’. The government also outlined its intention to ban cold calls that promote retirement income products, such as drawdown. The consultation closes on 17 A ...

What is the Requirement to Correct? The purpose of the Requirement to Correct (RTC) legislation is to require those taxpayers with undeclared offshore tax liabilities to disclose such liabilities to HMRC on or before 30 September 2018. Those who fail to do so will face severe financial penalties. The Common Reporting Standard (automatic exchange of financial data on a global ...

HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break. The Marriage Allowance allows certain couples, where neither pay tax at more than the basic rate, to transfer 10% of their unused personal allowance to their spouse or civil partner, reducing their tax bill by up to £238 ...

The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation, and ‘continues the government’s commitment to a competitive and fair tax system’. The draft legislation could affect a range of taxes, from Stamp Duty Land Tax (SDLT) to income tax. The draft legislation also outlines the government’s approach to the Making Tax Di ...

The Government is reminding ‘stressed out parents’ that help may be available for childcare costs during the summer holidays. According to a YouGov poll, 31% of parents feel stressed trying to arrange childcare for the school holidays. The poll, for HMRC, also found that around 30% of parents worried about balancing their job and school holiday childcare. With 54% admitting the ...

From April 2019, the National Assembly for Wales will be able to vary the rates of income tax payable by Welsh taxpayers. Responsibility for many aspects of income tax will remain with the UK government, and the tax will continue to be collected by HMRC for Welsh taxpayers. The process for setting Welsh rates of income tax From April 2019, the UK government will reduce each ...

HMRC has launched a consultation on how to tackle non-compliance with the off-payroll working rules in the private sector and are asking for comments on the best way to do this. HMRC estimates only 10% of PSCs that should apply the legislation actually do so, and the the cost of this is projected to increase from £700m in 2017/18 to £1.2bn in 2022/23. This consultation provid ...

BEIS and HMRC are urging underpaid workers to complain about National Minimum Wage (NMW) and National Living Wage (NLW) underpayments. Recent figures show that the number of workers receiving the money they are owed has doubled. During 2017/18, HMRC investigators identified £15.6 million in pay owed to more than a record 200,000 of the UK’s lowest paid workers. This is an inc ...

The Enterprise Management Incentive (EMI) allows selected employees (often key to the employer) to be given the opportunity to acquire a significant number of shares in their employer through the issue of options. An EMI can offer significant tax advantages as the share option scheme allows options to be granted to employees which may allow the shares to be received without any ...