PAYE
In Hok to HMRC over P35 penalties? - 12 January 2012
If you have received penalties for late filing of P35's the following may be of interest. In the recent case of Hok Limited v HMRC a P35 penalty has been overturned on the basis that HMRC waited several months before issuing penalty notices. read the full details
Penalties for late PAYE payments beging - 20 December 2011
HMRC have commenced notifying employers of the raising of Penalties for 2010/2011 when PAYE payments have been received late. The penalties are on a sliding scale form 1% to 4%. HMRC will not charge a penalty if there was only 1 payment late. read the full details
Will the 50% tax rate be dropped? - 29 March 2011
Vince Cable, the business secretary in interviews with the BBC has conceded that the 50% tax band was only a temporary measure.
Having been an emergency response to the budget deficit the Chancellor has already instigated a Treasury review of the 50% rate of taxation affecting taxpayers with earnings over £150,000. This review may be an indicator that the band may disappear as soon as 2013.
Will it all be good news though? It is unlikely and there are already talks about raising the tax take on property, possibly through a review of council tax or stamp duty.
HMRC & Faster Payments - 02 December 2010
Something to watch out for if you are paying HMRC electronically.
HMRC do not use 'faster payment' which means that an electronic payment to HMRC takes 3 or 4 days to clear, and this needs to be factored in if you are making a payment by bank transfer. With electronic payment now mandatory on some taxes, and interest and penalties for late payment for others, this is a key point to bear in mind.
read the full details
PAYE Investigations – Top tips for dealing with them - 12 November 2010
While full blown company investigations still seem thin on the ground 2010 has seen a steady increase in the number of businesses targeted for PAYE investigations. read the full details
A different knock on the door - 23 September 2010
In the age of austerity, even HMRC is cutting back. Having shed around 25,000 staff in the last six years, they plan to close 200 offices by 2011. But their pursuit of unpaid taxes not let up.
HMRC has now signed contracts with a number of debt collection agencies, who will receive a healthy commission on monies they recover from both individuals businesses. Be prepared for a different knock on the door!
PAYE reforms to save Government money - 07 September 2010
This was the claim made when in late July the government launched a consultation on radical plans to overhaul the PAYE system.
There consultation covers two key elements. The collection of real time information and the centralisation of deductions. Under the proposal HMRC would effectively become the "payroll department" for the country.
One of the key claims is that with the government at the helm it would make it easier to ensure that individuals pay the right tax and that there would be a more accurate
read the full details
Time to pay arrangements - 05 May 2010
You may have been one of the businesses that have struggled in the last 18 months with cashflow and taken advantage of HMRC’s time to pay arrangements. The Business Payment Support Service has dealt with requests to defer over £4billion in tax so far.
What HMRC haven’t managed to do is reflect those arrangements within the PAYE/NI underpayment notices issued over the last few weeks.
This means that you may well have had a demand for PAYE/NI which is already under an arrangement to pay with HMRC. read the full details
HMRC underpayment notices - 30 April 2010
We’ve been inundated this year already with overpayment notices from HMRC. This year they seem to have been issuing notices very early.
The main cause seems to be that they have been issued with dates before the 19th April, which is of course the due date for your March PAYE/NI.
So in most cases this is a timing difference and causes a lot of unnecessary work. We’ve already made representations to HMRC to hold any notices being issued until after the 19th April in future years.
Employer tax cards for 2010-11 - 14 April 2010
You can access your 4 page pdf version of The 2010-11 Tax Facts for Employers. Our Tax Fact cards were a great success last year and we used up our supplies quickly. The Tax Fact Cards are designed specifically for those involved in payroll.
However, we have delayed the launch of the printed version this year because of the General Election on the 6th May. Will a change in government affect your payroll? Possibly! read the full details
