HMRC has published guidance to help tax agents ensure that forms sent to its Central Agent Authorisation Team (CAAT) are processed as quickly as possible. HMRC asks agents to:
Employers who are using the Employer CD-ROM to help run their payroll systems ‘must update it now’ to ensure it has the most up-to-date guidance and calculators, HMRC announced.
The Treasury published minutes of the 30 July meeting of the ‘CFC interim improvements’ working group, slides outlining the aim and scope of the interim improvements, and details of the group’s approved terms of reference.
HMRC insisted that over and underpayments would always be a feature of the PAYE system after it emerged that between four and ten million people could be in line for a repayment, while at least 1.4 million face demands for unpaid tax.
The Chartered Institute of Taxation has questioned whether it is worthwhile for professional bodies to review draft legislation and provide comments on technical changes.
The regional national insurance contributions holiday for new businesses came into effect on 6 September.
HMRC has published the notes accompanying the ‘PAYE tax calculations’ sent to 45,000 taxpayers.
HMRC has defended the PAYE system after press reports indicated that between four and ten million people could be in line for a repayment, while at least 1.4 million face demands for unpaid tax.
The CIOT’s Low Incomes Tax Reform Group advised taxpayers to treat HMRC calculations showing an underpayment with caution.
HMRC is inviting comments by 23 September on proposals to improve the operation of the PAYE system by collecting 'real time information'.