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.
The National Minimum Wage Regulations 1999 (Amendment) Regulations, SI 2010/1901, increase the hourly rates with effect from 1 October 2010.
Catherine Robins considers the impact for employers of the income tax and national insurance changes announced in the emergency Budget
Philip Fisher on PAYE
David Craddock discusses the tax advantages and consequences of EMIs
Speakers offer authoritative updates on PTCs and FLPs, QROPS, and EBTs and EFRBS
Radical reforms to the PAYE system, saving employers an estimated £500 million, are among proposals set out in nine tax policy documents released ‘for discussion and consultation’ as Parliament rose for the summer recess.
HMRC’s performance in collecting debt has improved, with amounts due from taxpayers but not yet paid decreasing by £1.6 billion to £26.1 billion, the National Audit Office (NAO) said.
The UK’s top rate of personal income tax is ‘substantially above the OECD average and likely to adversely affect work incentives and entrepreneurship’, according to an OECD report. Consideration should be given to reducing the rate to close to 40%, it said.