PAYROLL NEWS
Payroll news
Her Majesty’s Revenue and Customs (HMRC) updates P45 guidance IN THE Agent Update for May, HMRC provided some updated guidance regarding how to process P45s for new starters. The advice is still to utilise a P45 or starter checklist when adding a new starter to payroll. The alternative instruction, however, states that after the first full payment submission has been sent with that new starter on, no previous pay, tax or tax code should be added to the payroll record. Student loan information, however, can be updated (if applicable). The full Agent Update can be found here: http:// ow.ly/SQNq30slXcQ.
Real living wage to be confirmed in September DUE TO the rising cost of living and increases to inflation, the Living Wage Foundation has confirmed it will bring its yearly real living wage announcement forward from November to September. The real living wage is separate to the national living wage and isn’t mandatory. It’s calculated independently and based on the cost of living. Ordinarily, the announcement is made in November, and accredited employers have six months in which to implement the new rates. This year, however, the announcement will be made in September. The current rates are £9.90 per hour across the UK, but £11.05 for workers in London, as it’s generally accepted that it costs more to live in London. More than 10,000 employers are currently accredited by the Living Wage Foundation for voluntarily paying the real living wage. The official announcement can be found here: http://ow.ly/HSG330slXlh.
Fuel advisory rates from 1 June 2022 THE ADVISORY fuel rates changed effective 1 June 2022, and apply, until further notice, to all journeys made on or after this date. For one month from the date of change, employers can choose to use either the previous or revised rates. Employers may therefore make or require supplementary payments if they so wish but are under no obligation to do either.
Another firm publicly named as tax avoidance promoter HMRC HAS named London-based firm, Peak PAYE Ltd, as a tax avoidance promoter. Anybody who is currently using the scheme promoted by the firm is being advised by HMRC to withdraw from it. They’re also urged to contact HMRC as soon as possible to avoid receiving significant tax bills. HMRC was recently granted new powers to name tax avoidance schemes and their promoters, and this is the third scheme it has publicly named. There are plans to add to the list over the coming months, but HMRC has issued a reminder that it won’t be an exhaustive list of all tax avoidance schemes, promoters, enablers and suppliers, and the advice is to steer clear of all avoidance schemes. The press release from HMRC can be located here: http://ow.ly/ a5FP30slXpN.
Engine size
Petrol
Diesel
LPG
Up to 1400cc
14p
9p
13p
1401cc to 1600cc
17p
11p
1601cc to 2000cc
16p
Over 2000cc
25p
19p
16p
Diary dates
P11D submission date (to both HMRC and employees) P11D(b) submission date
6 July
5 July
Last day of tax month 3
6 July
First day of tax month 4
Last day for submitting a real time information employer payment summary to apply to tax month 3 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method
19 July
22 July
Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
5 August 6 August
Last day of tax month 4 First day of tax month 5
Last day for submitting a real time information employer payment summary to apply to tax month 4 Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by non-electronic method
19 August
22 August
Deadline for payment of PAYE and NICs etc to HMRC’s Accounts Office by electronic method
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| Professional in Payroll, Pensions and Reward |
Issue 82 | July - August 2022
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