• In April 2013 HMRC are introducing a new way of reporting PAYE information, known as Real Time Information (RTI). ‘Real Time Information’ means that employers, or their agents, will tell HMRC about employees’ pay and deductions on or before the time they are paid to the employees as part of their payroll process.

    13th July 2012

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  • The latest “amnesty” currently being offered by HMRC are for higher rate taxpayers who have failed to submit tax returns in previous years. The Inland Revenue are encouraging defaulters to bring their tax affairs up to date and pay any arrears of tax under this latest campaign.

    6th July 2012

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  • Automatic pension enrolment duties are being phased in from this October. The Pensions Regulator has now published guidance for businesses that will be subject to these provisions.

    29th June 2012

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  • HMRC has issued another press release warning taxpayers about possible fake or “phishing” emails sent out by fraudsters encouraging recipients to divulge personal financial information. There is usually a spike in the level of this activity in the lead up to the 31st July Tax Credits renewal and Self-Assessment payment deadlines.

    20th June 2012

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  • Following his extra interest in Overseas Bank Accounts, Plumbers and Electricians, HMRC have asked online auction sites to provide detailed information about their members. The auction sites involved have been told they have a legal obligation to comply; failure to do so will result in an initial penalty of £300 plus up to £60 per day for any continuing failure.

    10th June 2012

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  • After a lot of press leaks, comment and second guessing the Chancellor finally delivered his Budget at the end of March. Remember that the majority of these changes come in to effect next year but still require Royal Assent!

    16th May 2012

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  • At the turn of the year, HMRC reported that they would be visiting up to 50,000 small businesses at random to check the quality of their record keeping. Well, the good news is that after making less than 2,500 visits, the scheme has been scrapped.

    17th March 2012

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