`The Chartered Institute of Payroll Professionals
News On Line
Emailed: 1 February 2023
As a reminder, HM Revenue and Customs (HMRC) publishes a list of recognised payroll software that can be used to report PAYE information online.
Whether you’re a business just starting up or looking to change your payroll software provider ahead of the new tax year, considering the features required and whether the software delivers these are important. It is also crucial to remain compliant and align these with your needs.
HMRC has said:
‘‘HMRC cannot recommend one product or service over another. We’re also not responsible for any problems you have with software you’ve bought.’’
The list by HMRC includes free and paid-for software and can be found here. The list is regularly updated and always a good place to start when considering a change of payroll software.
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HMRC: Manage Access Groups Published: 3 February 2023 Emailed: 8 February 2023
HM Revenue and Customs (HMRC) is expanding access to a new feature within the agent services account called ‘ Manage Access Groups ’, commencing from 7 February 2023.
The feature will allow agents to control who in their agency can access client records, with the option to opt in or out of using it. Team members within the agency can be assigned to a particular group and will only be able to access client records within that group. This is an extension of the private beta trial of Access Groups, which was rolled out to a small number of tax agents with up to 1,000 clients. However now HMRC will trial this functionality to the wider payroll community, with agents with up to 100,000 clients.
HMRC has said:
‘‘ We have been testing this with agents that have up to 1,000 clients and we are pleased to tell you we are ready to begin testing with larger agents that have up to 100,000 clients .”
‘‘If you are interested in taking part in testing or would like to find out more about what it involves or how Manage Access Groups could benefit your business, email mtdgpvolunteers@hmrc.gov.uk .’’
You can also find out more on the Agent Support Group forum, which aims to gather views of agents and bookkeepers through professional bodies.
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HMRC late payment interest rates to be revised Published: 3 February 2023 Emailed: 8 February 2023
Following the announcement of the increase of interest rate to 4% by the Bank of England, HM Revenue and Customs (HMRC) has outlined interest rates for late payments and repayments will be revised.
Consequently, these changes will come into effect on:
• 13 February 2023 for quarterly instalment payments • 21 February 2023 for non-quarterly instalments payments.
HMRC interest rates are set in legislation and are linked to the Bank of England base rate. Late payment interest is set at base rate plus 2.5%. Repayment interest is set at base rate minus 1%, with a lower limit - or ‘minimum floor’ - of 0.5%.
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