The CIOT’s Low Incomes Tax Reform Group advised taxpayers to treat HMRC calculations showing an underpayment with caution.
The National Association of Pension Funds (NAPF) has welcomed the Government’s alternative proposals to restrict pensions tax relief for those on higher incomes, but warned that ‘unintended consequences will punish savers who are not high earners’.
HMRC is inviting comments by 23 September on proposals to improve the operation of the PAYE system by collecting 'real time information'.
A technical note setting out how the ‘regional employer NICs holiday for new businesses’ will work is available via www.lexisurl.com/Dn57B.
Issue 19 of HMRC’s Agent Update includes items on:
Reviewing the impact of Astra Zeneca UK Ltd v HMRC
Validity of company voluntary arrangement
Mark Groom explains why a robust tax analysis is essential in devising a flexible benefits programme
The August 2010 issue of HMRC’s Employer Bulletin is available via www.lexisurl.com/7hnBn and declares that www.businesslink.gov.uk is the ‘new home for HMRC guidance and transactions’.
An optional, ‘simplified’ approach to valuing cycles sold to employees after the end of a loan period is set out in a new paragraph EIM21667a of HMRC’s Employment Income Manual.