HMRC seeking penalty for incorrect share loss relief claim
Attacks on HMRC for making 5.1m ‘errors’ in people’s tax for 2011/12 are unfounded, the CIOT’s Low Incomes Tax Reform Group has warned. HMRC announced last week that around 3m taxpayers were about to receive tax refunds, ‘two months earlier than last year’.
An updated Notice 727: Retail Schemes is available. HMRC has also updated the Chinese, Japanese, Arabic and Spanish versions of its Notice 704/1: Tax free shopping in the UK. The foreign language versions have the title VAT refunds for travellers departing from the EC.
HMRC is organising a second public meeting this week to give people an opportunity to ask questions about the proposed Gift Aid Small Donations Scheme. A formal consultation on the measure will close on 25 May.
HMRC has published a further reminder to employers that annual returns of employees’ tax and NICs for 2011/12 must be sent online to HMRC by 19 May in order to avoid late filing penalties.
HMRC has reminded electricians that the registration deadline for its Electricians Tax Safe Plan is 15 May. Electricians taking part can pay any tax and interest they owe while benefiting from ‘lower penalties of only 10%, with a maximum of 20%’, HMRC said in a press release.
HMRC has updated three of the toolkits designed to help reduce common errors in the completion of tax returns:
HMRC’s latest Agent Update includes articles on the PAYE Real Time Information pilot, the e-marketplaces campaign and record-keeping apps for small businesses, as well as summaries of tax consultations and other developments.
HMRC has updated five of the toolkits designed to help reduce common errors in the completion of tax returns:
HMRC has reminded employers that their annual returns of employees’ tax and NICs for 2011/12 must be sent online to HMRC by 19 May.