From April 2020 the EYU will no longer be a valid submission to make amendment to the Tax Year ending 05 April 2020 and any amendments will need to be made using an FPS.
Timetable summary
• Amendments to the Tax Year ending 05 April 2019 from 20 April 2019 – an EYU or FPS will be accepted. This is to be a pilot year and the use of the FPS after the year end will be voluntary. • Amendments to the Tax Year ending 05 April 2020 (and future years) from 20 April 2020 – will be made by the submission of an FPS • Amendments to Tax Years ending 05 April 2018 and earlier – will be made by the submission on an EYU
The Employer Payment Summary (EPS) will not be impacted by this change.
From 20 April 2020 onwards HMRC’s Basic PAYE Tools software will be updated to allow customers to submit FPS’s for the year ending 5 April 2020 and onwards, to report any amendments.
HMRC do not anticipate that any changes will be made to the format of the FPS when it is used after the 19 April following the year end. The FPS will provide an update to the last period reported, with a matching or later pay date for the individual, to indicate a change in the year to date figures.
CIPP comment
This welcome improvement has been long awaited and whilst it will not remove the challenge created for employers and HMRC by duplicate payments, it is in this space where it is hoped that greater clarity will be provided.
Back to Contents
HMRC anti money laundering fee increase 8 April 2019
HMRC is introducing significant enhancements to its supervision and taking a more robust approach to tackling non- compliance with the Money Laundering Regulations. As a result the anti money laundering supervision fees are changing from 1 May 2019. The recent Financial Action Task Force (FATF) mutual evaluation of the UK strongly commends the UK’s understanding of money laundering risk, international cooperation, money laundering investigations, prosecutions and asset recovery efforts, where HMRC plays a central role. It also recommended a harder-edged approach to anti money laundering supervision in the UK and increased coverage of regulated businesses. In continuing to strengthen its contribution to the UK’s fight against the threat of anti money laundering and terrorist financing, HMRC is introducing significant enhancements to its supervision and taking a more robust approach to tackling non-compliance with the Money Laundering Regulations. Key improvements include: • increasing the number of staff available for more face to face and desk-based interventions with registered and unregistered businesses • providing more educational products and activity, including webinars and online-learning. Helping registered businesses to get things right first time
These enhancements come at a cost. HMRC’s anti money laundering supervision fees are changing from 1 May 2019:
• the annual registration fee is increasing to £300 per premises for businesses with a turnover of £5,000 or above
• the annual registration fee is increasing to £180 for businesses with a turnover below £5,000
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 318 of 629
Made with FlippingBook - Online magazine maker