`The Chartered Institute of Payroll Professionals
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HMRC is aware of this and publishes a list of current communication campaigns to help you assess if a suspicious email, letter or call is a scam. The list provides details on the communication methods used for that campaign, what information you will be provided with and what information, if any, is requested from you.
If you receive a communication that is not listed, and believe it to be a scam, you can report it to HMRC for further investigation.
Don’t get caught out by fraud, a simple check could save you from a costly error.
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HMRC spotlight guidance: umbrella company tax avoidance schemes Published: 26 August 2022 Emailed: 31 August 2022
Her Majesty’s Revenue and Customs (HMRC) has published a guidance page collating information and links relating to umbrella company tax avoidance.
While the guidance is aimed at agency workers and contractors, it can be useful to understand how these processes work if you have any involvement with umbrella companies. Being able to spot, and report, any suspicious activity is key to remaining compliant and not finding yourself in the middle of a tax avoidance investigation.
The areas covered in the guidance are:
• What we publish about tax avoidance schemes and those promoting them • How these arrangements claim to work • When you could be at risk of being involved in tax avoidance • Why these arrangements do not work • Repaying a disguised remuneration loan to a third party • Get advice if you are worried about using these types of schemes • Get more information or report a scheme and an umbrella company • Paying your tax
This continues HMRC’s work as part of their Tax Avoidance – don’t get caught o ut campaign. This spotlight guidance highlights the importance HMRC is currently putting on tax avoidance schemes.
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HMRC updates Making Tax Digital for Income Tax guidance pages Published: 26 August 2022 Emailed: 31 August 2022
Her Majesty’s Revenue and Customs (HMRC) has released 4 new guidance pages for Making Tax Digital for Inc ome Tax.
Individuals can sign up for Making Tax Digital for Income tax if the meet all of the following criteria:
•
they are registered for Self Assessment
• they get income from self-employment or property, or both • their total qualifying income is more than £10,000.
The four guidance pages updated by HMRC are:
Check if you can sign up for Making Tax Digital for Income Tax Using Making Tax Digital for Income Tax Sign up as an individual for Making Tax Digital for Income Tax Check when to sign up for Making Tax Digital for Income Tax
Signs ups can start for a planned implementation date of 6 April 2024. These pages break down the requirements to use the scheme, who can use it and how to sign up.
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