HMRC has said that it has always been the case that as we get nearer to March 2019, preparations for a ‘no deal’ scenario would have to be accelerated. “Such an acceleration does not reflect an increased likelihood of a ‘no deal’ outcome. Rather, it is about ensuring our plans are in place in the unlikely scenario that they need to be relied on.” All the information in the partnership pack is broken down into different sections relevant to each user group, where you can find: • the sections that everyone needs to read • resources to help your communications with customers, clients and members • sections that are relevant to your industry or type of business.
The partnership pack is also available to read as a single pdf document.
HMRC has stated that more detailed guidance will be provided later in the autumn, including specific actions that traders and other stakeholders will need to take to prepare.
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Welsh Assembly detailed draft budget 26 October 2018
In advance of the Chancellor of the Exchequer standing up in Parliament to deliver his 2018 Autumn Budget on Monday 29 October the Welsh Assembly Detailed Draft Budget together with associated publications is available to view on the beta Wales.gov.
The Welsh Government have published the draft 2019-2020 Budget for Wales together with a number of policy papers including the Welsh Tax Policy Report 2018.
The timetable confirmed that the Detailed Draft Budget will now be debated in committees and in plenary (4 Dec), with the Final Budget to be published on 18 December.
Subject to final confirmation by The National Assembly, it is the intention of The Welsh Government to set the first Welsh rates of income tax at 10p. This, will result in the rates of income tax paid by Welsh taxpayers continuing to be the same as those paid by English and Northern Irish taxpayers which would uphold the commitment set out in the Labour manifesto and reflects the priority attached to an orderly transition to the Welsh rates of income tax.
The motion for approval will be laid prior to the final Budget debate,
Welsh Rates of Income Tax
Further details of how Welsh Rate of Income Tax will operate from April 2019 can be found in the Technical Note and Draft Legislation which is currently open for consultation until 5 November.
If you have view about whether the legislation delivers on the detail of the Technical Note then please contact technicalconsultation.writ@hmrc.gsi.gov.uk.
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Taxation of self-funded work-related training 1 November 2018
Earlier in the year the government consulted on the extension of tax relief for training by employees and the self- employed to support upskilling and retraining.
Published alongside Budget 2018 is the government’s response to the consultation. It has considered the case for an extension of tax relief for self-funded work-related training and on the basis of the evidence and the consultation
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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