The Chartered Institute of Payroll Professionals
News On Line
In order to understand and approve a supply chain, there are various steps that a business must take and they must ensure that workers are paid properly.
Failure to apply appropriate checks or to act where required can lead to businesses being fined and they could also become liable for any unpaid tax and National Insurance (NI) contributions. They could also be prevented from operating entirely and risk having their reputation damaged substantially.
To ensure the correct due diligence checks are being applied to supply chains, read the guidance in full here.
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Draft statutory instrument: Disclosure of Tax Avoidance Schemes (DOTAS) 20 May 2021
Tax avoidance schemes have received considerable media attention in recent weeks, so it is timely that HMRC has published draft regulations for consultation, which make changes to the existing Disclosure of Tax Avoidance Schemes (DOTAS) rules. The amendments would be implemented from 9 September 2021 and would ensure that “HMRC ca n act decisively where promoters fail to provide information on their avoidance schemes and make taxpayers aware at an earlier stage where it suspects an avoidance scheme is being sold.”
What the changes would mean is that HMRC would be able to allocate a reference number to arrangements, or a proposal, that have not been disclosed where HMRC reasonably suspects them to be notifiable.
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HMRC publishes Agent Update 84 21 May 2021
The latest Agent Update issue has been published by HMRC, and includes articles that discuss coronavirus, the UK transition, tax, HMRC agent services and the agent forum and engagement.
The update is aimed at tax agents and advisers with the purpose of providing them with the latest news and guidance.
A couple of the information pieces are included below, but you can read the Agent Update in full here
Statutory Sick Pay Rebate Scheme still in operation
Within the Agent Update, there is confirmation that the Statutory Sick Pay Rebate Scheme for coronavirus-related sickness absence is still in operation.
This scheme provides financial support to employers classed as being either small or medium in size, who had fewer than 250 employees as of 28 February 2020 and who have paid Statutory Sick Pay (SSP) in relation to coronavirus- related absence. The repayment can cover up to a maximum of two weeks’ worth of the relevant rate of SSP.
Agents can claim on behalf of their clients.
Further information and guidance is available online.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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