On 7 August 2018, the Secretary of State accepted a ‘disqualification undertaking’ from John Hanbury, after he did not dispute that he failed to ensure the company maintained and/or preserved, or alternatively following administration, deliver up adequate accounting records to the Joint Administrators.
His ban is effective from 28 August 2018 and lasts for 7 years.
A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot: • act as a director of a company • take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership • be a receiver of a company’s property.
‘Disqualification undertakings’ are the administrative equivalent of a disqualification order but do not involve court proceedings.
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Welsh Draft Budget published 4 October 2018
Finance Secretary Mark Drakeford has unveiled a Draft Budget for Wales, the first Budget to include revenues raised from Welsh rates of income tax as Wales gains the partial power to set and vary income tax for the first time.
The partial devolution of income tax from 6 April 2019 is the next step in Wales’ devolution journey and follows the successful introduction of the first Welsh taxes in almost 800 years – land transaction tax and landfill disposals tax – in April 2018. Welsh rate of income tax The responsibility for many aspects of income tax will remain with the UK government and, as with the Scottish rate of income tax (SRIT) the tax will continue to be collected by HMRC for Welsh taxpayers. As we saw when SRIT was first delivered, the UK tax rates will reduce each of the three rates of income tax i.e. basic, higher and additional rates that are to be paid by Welsh taxpayers by 10p. The National Assembly for Wales will then decide what amounts to set in replacement of these reductions. The combination of reduced UK rates plus the Welsh rates will determine the overall rate of income tax to be paid by Welsh taxpayers. For example, if each of the Welsh rates that are set and agreed by the National Assembly are 10p, this would result in the rates of income tax paid by Welsh taxpayers remaining the same as those paid by taxpayers in England and Northern Ireland. Payroll software Software developers are receiving updates and regular communications from HMRC’s Software Developer Support Team (SDST) to ensure that from April 2019 employers, payroll bureaux, book keepers and accountants will be able to operate their payroll processes, confident in the knowledge that their software is delivering solutions for the latest policy challenges. PAYE codes Employees affected by the change and liable to pay the Welsh rate of income tax will be identified by HMRC and the addition of a C (Cymru) prefix will be applied to their tax code. Income taxes regimes impacted by this change will
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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