HMRC’s Basic PAYE Tools for 2014-15
6 March 2014
HMRC plans to make its Basic PAYE Tools product for the 2014-15 tax year available on 3 April 2014.
The 2014-15 version of Basic PAYE Tools will be provided as an update to the existing version rather than a separate download, so existing users do not need to go to the HMRC website to get the update. If employers have the automatic updates switched on, and their computer is connected to the internet when they open Basic PAYE Tools, they will be automatically advised when the software update is available.
HMRC recommends that employers do not take the update until they have:
paid employees for the last time in 2013-14 completed the 'Final submission for the tax year' (declaration and the answers to the supplementary questions) - see Employers' final PAYE submission for 2013-14 sent all this information to HMRC.
Employers can do this using the version of Basic PAYE Tools released in October 2013 (version 13.2.13232).
The new 3 April 2014 version of Basic PAYE Tools will allow users to produce P60s for 2013-14, start the 2014-15 tax year and claim the new National Insurance contributions (NICs) Employment Allowance of up to £2,000.
Cheque payments to become quicker and easier
7 March 2014
The government has today unveiled detailed plans to modernise cheque payments.
The government is proposing legislating for “cheque imaging” which will speed up cheque clearing times and give customers greater convenience and choice in how they deposit cheques. The reforms will enable banks to clear a certified, digital image of a cheque instead of a traditional paper cheque. This will secure the future of the cheque as a reliable method of payment in the UK, using proven technology which has been in operation in the United States for 10 years. The changes will make a real difference to cheque users. Not only will it reduce the time it takes for a cheque to clear, to as little as two days, it will increase consumer convenience and choice of ways to pay. While customers will continue to be able to deposit cheques at branches, cash machines, Post Offices or by post and still benefit from a faster clearing cycle, banks will also be able to offer the option of paying in cheques via smartphone or tablet. For customers in rural areas or with limited mobility, for example, this extra option could help overcome current barriers to financial inclusion. Additionally, banks may be able to offer later last times of deposit to customers if they no longer require couriers to collect paper cheques daily from branches. Cheques are a crucial part of the British payments landscape - nearly £840 billion of cheques were processed in 2012 – accounting for 10% of all payments made by individuals. They are especially important to small businesses – sole traders and other micro businesses who continue to make over a fifth of their outgoing payments in cheques. Cheques continue to be
CIPP Policy News Journal
16/04/2014, Page 307 of 519
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