These amending draft regulations are open for comment until 16 February 2012. All comments should be emailed to pa.harris@hmrc.gsi.gov.uk . A Q&A document will also be available on the HMRC website in the week ending 29 January 2012, to assist with making comments on the draft regulatory changes. We will publish this document on the CIPP web pages when it becomes available.
TAX CODE LEGISLATION CHANGE FOR SHARED BASED EARNINGS Q & A
30 JANUARY 2012 We announced last week that code 0T (non-cumulative) will be applied from 6 April 2012 to share-based payments made to individuals after they have ceased employment. HMRC have now published a Q & A to assist those who wish to comment on the draft regulations. The draft regulatory amendments to the Income Tax (PAYE) Regulations 2003 required to implement this change have been published on the HMRC website (including a Technical Note). These amending draft regulations are open for comment until 16 February 2012. All comments should be emailed to pa.harris@hmrc.gsi.gov.uk . The Q&A document has been produced to assist with making comments on the draft regulatory changes.
Collecting debts through PAYE
CONSULTATION ON DRAFT SECONDARY LEGISLATION
20 April 2011 HMRC have published a consultation on draft secondary legislation designed to extend collection through PAYE to all tax debts, as well as increasing the threshold for such collection to £3000. The government has consulted twice on the principle of HMRC using the PAYE system to collect more tax debts (“coding out”), and exposed draft secondary legislation for comment alongside the Finance Bill 2009 clauses that introduced this measure. These consultations received broad support and HMRC are working towards implementing this measure from April 2012. In order to do that secondary legislation needs to be made to provide the necessary cover for HMRC to identify relevant debts to code out in Autumn 2011 and, secondly, to then begin collecting debt through the coding process in April 2012. Increasing the coding out threshold will ensure more taxpayers’ debts can be collected using this relatively cheap and less intrusive method. It also minimises the compliance burden on the taxpayer.
SUMMARY OF RESPONSES TO CONSULATION ON DRAFT SECONDARY LEGISLATION
6 July 2011
CIPP Policy News Journal
09/10/2012, Page 113 of 234
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