intermediaries have until 31 January 2014 to submit amended returns showing the final figures and to pay any additional tax and NICs due.
In these circumstances, interest will be charged on late payments made after 19 April 2013 (when the original payment was due) but no penalties will be charged if:
the original P35 and relevant P14s were received by 19 May 2013 with part 2 of question 6 on the P35 answered 'Yes' and showing remuneration paid during the year plus an amount on account of the deemed employment payment with tax and NICs correctly calculated, and an amended P35 and accompanying documents notifying the correct final amount for the deemed employment payment and the tax and NICs due is sent to HM Revenue & Customs (HMRC) by 31 January 2014, and any additional tax and NICs due as a result of the amended P35 is paid by 31 January 2014 If HMRC does not receive an amended P35 and balancing payment by 31 January 2014, the original P35 will be considered to reflect figures which the employer declares to be final and correct.
Offshore Employment Intermediaries
25 March 2014
New Tax and National Insurance rules for Offshore Employment Intermediaries come into force from 6 April 2014. HMRC has published guidance about the changes.
At Budget 2013 the government launched a consultation on changing the rules on Offshore Employment Intermediaries in order to deter PAYE and National Insurance (NIC) avoidance schemes.
Following consultation, the government introduced new Tax and NIC rules which take effect from 6 April 2014.
Offshore Employment Intermediaries
HMRC need to do more to justify the continuing existence of the IR35 legislation, say House of Lords
7 April 2014
A House of Lords Select Committee has published their report on Personal Service Companies.
A call for evidence conducted by a Select Committee of the House of Lords was launched in November 2013 into the use of Personal Service Companies. The Committee focussed on five main areas during this inquiry: The use of personal service companies, relevant legislation and recent trends; The continuing viability of the IR35 legislation; HMRC’s administration and the effect of recent reforms; Implications for the lower-paid; and The public sector.
CIPP Policy News Journal
16/04/2014, Page 319 of 519
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