HM Revenue & Customs has published a discussion document on the implementation of the model Agreement to be entered into between the UK and Crown Dependencies/Overseas Territories to improve international tax compliance. The closing date for comments on the discussion document is the 6 September. The proposals will be reviewed in light of the responses, with the view to introducing regulations and guidance in Autumn 2013.
HOW IS YOUR PAYROLL SOFTWARE DEALING WITH APPENDIX 5?
10 July 2013
The question of how payroll software deals with adjustment to real time submissions for Foreign Tax Credit Relief (FTCR) came up at a recent meeting of the Ex Pat Forum and in response to stakeholder requests HMRC has provided script for employers in the event that they receive a call from Debt Management & Banking (DMB) personnel querying an apparent underpayment, which the employer knows to be as a result of an offset for Foreign Tax Credit Relief. “The discrepancy is due to the fact we are an Appendix 5 employer and our software will not allow us to report the correct tax position for some employees. HMRC are aware of this issue”. If any members who have to deal with the requirement to adjust returns to account for foreign tax credit relief and who can achieve this successfully through their software, the CIPP Policy & Research Team would very much appreciate you letting us know what software you use and how you achieve success. Please email samantha.mann@cipp.org.uk letting her know of your experiences with your software, RTI and Foreign Tax Credit Relief. Indeed Samantha would very much like to hear from any member willing to share their experiences so far of real time in an expat world. Stakeholders have been assured that DMB personnel have been briefed about this issue.
Statutory Residence Test – revised guidance note
2 September 2013
HMRC has published a revised guidance for the new Statutory Residence Test (SRT), which was introduced for the 2013/14 tax year.
This SRT Guidance Note gives you information about the SRT, introduced in Finance Act 2013, and how HMRC interprets the legislation in the context of applying the SRT to an individual’s circumstances.
The guidance should be read in conjunction with the statutory residence test legislation, which forms Schedule 45 to the Finance Act 2013 , to gain a comprehensive understanding.
Revised form P85 - Leaving the UK - getting your tax right
16 September 2013
The form P85 has been further revised to take account of changes in residence rules effective from 6 April 2013.
The form can be accessed on HMRC’s website .
CIPP Policy News Journal
16/04/2014, Page 271 of 519
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