HMRC’s Agent Update issue 94 brings together various updates and reminders, including the following:
Employee home-office expenses: the temporary income tax and NICs easements for coronavirus-related home-office expenses reimbursed by the employer ends on 5 April 2022.
Non-UK resident employees: the income tax relaxation for non-UK resident employees who were stuck in the UK because of coronavirus travel restrictions also ends on 5 April 2022.
Construction industry scheme changes: from April 2022, companies will need to add their CT unique taxpayer reference into a new field on the employer payment summary in order to claim credit for CIS deductions.
Corporate interest restriction: HMRC intends to mandate that all reporting company appointments or revocations and interest restriction returns are submitted using the online submission form (the ‘G-form’) or the Application Programming Interface (API), for all submissions on or after 1 September 2022.
Official rate of interest: the official rate for calculating the income tax charge on employment-related beneficial loans will remain at 2% for the 2022–23 tax year.
HMRC’s Agent Update issue 94 brings together various updates and reminders, including the following:
Employee home-office expenses: the temporary income tax and NICs easements for coronavirus-related home-office expenses reimbursed by the employer ends on 5 April 2022.
Non-UK resident employees: the income tax relaxation for non-UK resident employees who were stuck in the UK because of coronavirus travel restrictions also ends on 5 April 2022.
Construction industry scheme changes: from April 2022, companies will need to add their CT unique taxpayer reference into a new field on the employer payment summary in order to claim credit for CIS deductions.
Corporate interest restriction: HMRC intends to mandate that all reporting company appointments or revocations and interest restriction returns are submitted using the online submission form (the ‘G-form’) or the Application Programming Interface (API), for all submissions on or after 1 September 2022.
Official rate of interest: the official rate for calculating the income tax charge on employment-related beneficial loans will remain at 2% for the 2022–23 tax year.
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