HMRC is one of ten employers engaged in the department’s Real Time Information pilot launched yesterday. All employers and pension providers will be required by October 2013 to provide PAYE information during the year.
The Car Fuel Benefit Order, SI 2012/915, increases from £18,800 to £20,200, with effect from 6 April 2012, the multiplier in ITEPA 2003 s 150 used to fix the cash equivalent of the benefit of car fuel received by an em
The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations, SI 2012/884, ‘strengthen’ the tax provisions relating to the t
Tax agents have welcomed new HMRC procedures aimed at reducing the number of employers facing penalties for late filing of annual returns.
HMRC has published a number of Tax Information and Impact Notes relating to changes to the PAYE system and NICs legislation:
The Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2012/822, amend SI 2003/2682 to introduce Real Time Information (RTI), and close the simplified PAYE deduction scheme to new employers, from April 2012
The Social Security (Categorisation of Earners) (Amendment) Regulations, SI 2012/816, amend SI 1978/1689 to exclude lecturers, teachers etc e
The Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations, SI 2012/804, specify for 2012/13 the levels of the lower and upper earnings limits and the primary and secondary thresholds for Class
The Postal Services Act 2011 (Taxation) Regulations, SI 2012/764, are intended to provide a ‘tax neutral’ outcome on the transfer of pension rights from the Royal Mail Pen
HMRC has updated the following toolkits for the 2011/12 tax return: