Helen Lethaby on the surprise loss for the taxpayer in Samarkand Film Partnership, an update on disguised remuneration, the ECJ stance on VAT treatment of sales of distressed debt, and more.
Employers and tax and payroll professionals were invited to help the government explore options for the operational alignment of income tax and national insurance contributions, after a recent call for evidence drew more than 70 responses and suggested a ‘clear appetite’ for reform.
The PAYE ‘coding out’ limit for tax underpayments remains at £2,000 for 2010/11 tax returns, but HMRC has invited agents to contact the department to discuss the possibility of arranging coding adjustments for up to £3,000.
Personal online tax accounts and pre-filled tax returns could ‘transform’ people’s experience of the tax system and improve their understanding of what they pay, under proposals unveiled at a Downing Street press conference today.
The 2013 deadline for the introduction of Real Time Information, a new PAYE reporting system, will require substantive employer tax and HR systems changes, say Mark Groom and Eira Smith.
Technical guidance on the FA 2011 rules on employment income provided through third parties has been added to HMRC’s Employment Income Manual. The guidance supersedes HMRC’s published FAQs.
Alastair Kendrick considers points to review in practice