As ever, please be aware of scams claiming to be from HMRC, offering to help you set up payment plans to pay any tax owed. These scams are trying to gather your details to steal your money. Check GOV.UK for information on how to recognise genuine HMRC contact. Please send any emails that you believe to be a scam to phishing@hmrc.gov.uk
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HMRC and TPR join forces to deliver webinar on pension scams 9 October 2020
HMRC and The Pensions Regulator (TPR) are working alongside one another, to deliver a webinar that will provide guidance for employers on the topic of how they can assist employees in avoiding falling victim to pension scams.
Unfortunately, the outbreak of coronavirus has seen the number of pension scams increase substantially, as fraudsters try and use the pandemic as an opportunity to prey on the most vulnerable in these uncertain times. The webinar will take place on Monday 12 October, between 11:15 and 12:15, and will explore how pension scams work, identify who is most at risk, and will also highlight what the key warning signs are. The Financial Conduct Authority (FCA) also provides a wealth of information designed to prevent savers from being duped by the range of pension scams that are currently in circulation. The overriding message is that individuals should take their time in making decisions relating to their pension, they should check who they are dealing with, reject any unexpected offers, and if possible, seek some impartial information or advice prior to making any decisions.
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The CIPP’s response to the HMRC consultation: ‘Supporting veterans’ transition to civilian life through employment’ 13 October 2020
HMRC published a consultation, which ran from July 2020 to October 2020, and sought to gain feedback on how a new employer’s 12-month National Insurance (NI) contributions holiday for businesses employing veterans could potentially work. The CIPP’s Policy and research team hosted a survey, and held a virtual thinktank roundtable meeting to collate the views of payroll professionals, in order to shape the CIPP’s formal response to HMRC.
The consultation focused on four key areas, which were:
Definitions
•
Eligibility
•
Administration
•
Record-keeping and evidence requirements
•
Of utmost concern to CIPP members, who responded to the survey or attended the meeting (or both), was the proposed transitional arrangement for the initial year that the policy will be implemented in, in tax year 2021-22. The current intention is for employers to continue to pay employer NI contributions as normal on the wages of the veterans, to then receive a credit back to their PAYE accounts for the relevant amount after submitting a Full Payment Submission (FPS), from April 2022 onwards. From April 2022, the relief can be claimed in real time, as a payroll solution will be possible by that point. The reaction to this was that it seemed too complex, and that an existing NI category that provides employer NI relief in much the same way should be utilised, or even a new category set up, so that employers have access to the entitlement in line with the date that the policy is first implemented.
Some other key points raised included:
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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