`The Chartered Institute of Payroll Professionals
News On Line
• check if your clients are liable for the new Plastic Packaging Tax
• Company Tax Returns: non-UK resident companies receiving UK property income
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increase in National Insurance thresholds
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improvements to Corporation Tax letters
• domestic reverse charge for mobile phones and computer chips — sales reporting
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residency and the remittance basis charge
• making a notification into the Qualifying Asset Holding Company Regime
• application of the Construction Industry Scheme to property investment companies
• amendments to Corporate Interest restriction — working group
Making Tax Digital
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changes to VAT penalties
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VAT Registration Service
• Making Tax Digital — make sure your clients are ready
• Making Tax Digital for Income Tax Self Assessment — joining the pilot
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Employer Bulletin: June 2022 Published: 22 June 2022 Emailed: 22 June 2022
The bulletin contains a wealth of information of interest to payroll professionals and the work that they carry out, and the CIPP recommends that it is read in its entirety.
Key items from the bulletin are highlighted below, but the full version can be accessed here.
PAYE •
Changes to our webchat service
• Increase in National Insurance thresholds - HMRC has reminded employers that the threshold changes will take effect from 6 July 2022, meaning employees will pay National Insurance contributions on less of their income. The Primary threshold from 6 July 2022 to 5 April 2023 will be £242 per week and £1,048 per month, equivalent to £12,570 per year (increased from £9,880 per year) • Basic PAYE Tools — additional in-year release - an important update to the Basic PAYE Tools (BPT) will be released at the beginning of July 2022. • Check you’re using the right PAYE reference - HMRC are urging employers to ensure they are using the right PAYE reference. The bulletin tells you where you can find your 13-character Accounts Office reference, along with the characters that are required to allocate payments to the correct tax year or month. HMRC has confirmed that the risk-based approach to late filing PAYE and late payment penalties, will continue for the 2022 to 2023 tax year. • Reporting PAYE in real time - If a Full Payment Submission (FPS) is filed late but within three days of the payment date and there remains no pattern of persistent late filing, HMRC will continue not to charge penalties automatically. Employers are still required to file their submissions on time unless any of the circumstances set out in the ‘Sending an FPS after payday’ guidance arise. • Student and Postgraduate Loans - Student or Postgraduate (SL or PGL) loan deductions should not be taken for workers who are subject to the off-payroll working rules. There has been an increase in the number of Student or Postgraduate Loan start and stop notifications being returned to HMRC. The bulletin explains what action should be taken upon receipt of a start or stop notification.
cipp.org.uk
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