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This Practical Tax Database and Virtual Tax Partner® Toolkit is your online tax partner. It answers all your key tax FAQs, is packed with useful and practical tax and business guidance.

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Great news for small employers (up to 49 employees): you will not be charged late filing penalties under PAYE Real Time Information (RTI) reporting until 5 March 2015. This change follows a recent relaxation for micro employers (1 to 9) employees which delays penalties for them until 5 April 2016. 

Good morning

This time we have a "back to school" special: a gentle reminder of what's new in the 2014 Finance Bill and what topics are currently under consultation, and at last a bit of good news on RTI. I have to say "thank you" to HMRC for listening to our concerns about RTI. Great news that micro businesses need only report RTI monthly until 2016. This means that they can ignore the "on or before payment rule" until then.  

Real-Time Information (RTI): HMRC allowed micro-employers to file monthly until April 2016.

HMRC has been given leave to appeal the decision of the Upper Tier Tax Tribunal that payments made by the club to players via its employee benefit trust (EBT) were loans and not subject to PAYE. 

Two consultations on offshore evasion strategy have now closed, new measures are being introduced in 2015/16. The new measures include making a failure to declare offshore income or gains a criminal offence.

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.

  1. Direct recovery of debts: a power too far
  2. CIOT call to exempt small employers from RTI
  3. Nichola's SME Tax w-update 25 July 2014
  4. HMRC plans stealth changes to PAYE codes
  5. HMRC lists DOTAS numbers for Accelerated Payment

 

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