The webinar is aimed at new company directors but could also prove useful for those more experienced directors who are aiming to refresh their knowledge. The webinar discusses the Income Tax and National Insurance (NI) that directors must pay. In addition to this, it covers the payroll data that needs to be submitted to HMRC. During the live webinar, attendees will have the opportunity to ask any questions that they may have in the on-screen text box.
As well as the webinars to be offered on additional dates, there is also the option to watch a recorded webinar on the same topic.
A further video is available to assist individuals in getting to grips with understanding their responsibilities as company directors. This one is entitled ‘HMRC and Companies House working together for you’. This video is aimed at people who are considering starting, or who have already started, a limited company. The webinar discusses:
Incorporation – how to register the company
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• Directors’ responsibilities to Companies House and to HMRC • Signposts to further help and guidance
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Disguised Remuneration Loan Charge deadline arrives 30 September 2020
Individuals who are subject to the loan charge, who have not yet filed their tax return, or agreed a settlement with HMRC, need to ensure that they submit their Self-Assessment tax return for the year 2018-19, by 30 September 2020, to avoid receiving penalties for late filing and payment. Impacted taxpayers had the choice of either submitting their 2018-19 return by 31 January 2020 providing a rough estimate of the tax due, or to file by 30 September 2020. There is a requirement for them to disclose the full details of their outstanding disguised remuneration loans and to record them in the relevant boxes as taxable income. Any penalties associated with late filing and payment for the 2018-19 tax return will be waived by HMRC on the proviso that it is filed no later than 30 September 2020. Late payment interest will not be attached to the outstanding tax for the period between 1 February 2020 and 30 September 2020, as long as a complete and accurate return is filed, with the associated tax paid, or an arrangement made with HMRC to do so by 30 September 2020. Disguised remuneration schemes are arrangements in which payments are made as loans as opposed to normal income, to avoid the associated tax and National Insurance contributions. The Loan Charge was introduced by HMRC in a bid to tackle the use of schemes of this nature.
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HMRC webinars – Off-Payroll working and Avoiding Saver Scams 5 October 2020
HMRC has advised that they have scheduled further Talking Points webinars.
In the coming weeks you can book onto webinars on the subject of protecting against saver scams and a reawakening on the subject of Off-payroll working reforms which are to be implemented from April 2021.
There are a limited number of spaces therefore to avoid disappointment secure your place now.
How you can help savers avoid scams - Monday 12 October 11.15am to 12.15pm
This webinar will provide information on pension scams, how they are operated, who is at risk and how to recognise the warning signs. During the current pandemic, there have been an increase in reports of such scams, therefore the information provided could be invaluable.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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