"Enter tax on such notional payments not recouped from the director/employee within 90 days of each notional payment"
To:
"Enter tax on such notional payments not recouped from the director/employee within 90 days of the end of the tax year"
HMRC has also made the necessary amendments to the 2014-15 P11D & P11D Guide PDFs which are available on the GOV.UK website.
HMRC are aware some employers may have already printed copies for completion or submitted their 2014-15 P11Ds using the original form and guidance. There is no need to re-submit amended forms as they will accept and process all P11Ds submitted on the understanding that ‘box b’ has been completed following the new legislation.
Deadlines for expenses and benefits returns 3 June 2015
If you complete expenses and benefits returns on behalf of your clients, the submission deadlines are looming.
6 July - deadline for submitting P11D(b), P11D and P9Ds See HMRC’s expenses and benefits toolkit which includes 2014 to 2015 employers' end of year forms and 2015 to 2016 record keeping toolkit.
19 July - deadline for non-electronic payment of Class 1A National Insurance
22 July - deadline for electronic payment of Class 1A National Insurance
To save on administration, you can consider Dispensations and PAYE Settlement Agreements where relevant.
HMRC has a number of other toolkits aimed at helping and supporting agents, including the updated National Insurance and Statutory Payments toolkit.
Approved professional organisations and learned societies 3 June 2015
HMRC has updated the list of professional bodies and learned societies (also known as List 3) with tax-deductible fees.
List 3 is updated periodically and includes all bodies approved by the Commissioners for HMRC up to 2 June 2015. It shows:
professional bodies and learned societies, approved by HM Revenue & Customs (HMRC) for the purposes of Section 344 ITEPA 2003 (formerly S201 ICTA 1988) details of statutory fees or contributions allowable for earlier years 2003-04 onwards are within S343 ITEPA 2003 (for earlier years S201(2) ICTA 1988).
Employment and Payroll Group: salary sacrifice and expenses 19 June 2015
At the last Employment and Payroll Group (EPG) meeting members asked, w hat happens to salary sacrifice arrangements for expense payments after 6 April 2016?
What happens to salary sacrifice arrangements for expense payments after 6 April 2016?
The expenses exemption that comes into force on 6 April 2016 specifically excludes expenses or benefits provided under a salary sacrifice arrangement or any other arrangement where employees give up the right to
CIPP Policy News Journal
25/04/2016, Page 140 of 453
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