Talking Point webinars for tax agents 18 August 2017
HMRC has circulated details of the next four weeks of Talking Points webinars.
Submission of SA returns affected by exclusions: This meeting will discuss 2016-17 SA return online submission issues and resulting exclusions. HMRC will explain the process for waiving the 31st October deadline and allowing paper returns submissions. Wednesday 23 August 2017 - midday to 1pm Construction Industry Scheme: Providing a basic overview of CIS, including registration, gross payment status, deductions, record keeping, and repayments. HMRC will also cover reporting, including how to correct errors on returns and common errors to avoid. Thursday 24 August 2017 - midday to 1pm
What is the Worldwide Disclosure Facility (WDF)?: You have until September 2018 to use HMRC’s WDF to bring your/your client’s offshore tax affairs up to date. This meeting will cover where to find guidance and support to help
make and complete a correct disclosure. Thursday 31 August - midday to 1pm
Option to Tax - The once and done approach: A general overview of option to tax. Explaining who can notify, how and when you can do it. Friday 1 September 2017 - midday to 1pm Tax Codes and how they have changed: This meeting will explain how HMRC have changed the way they use information to calculate tax codes. It will include how estimated pay, third party information and Real Time Information (RTI) data, is influencing codes. HMRC will also cover coding rules and the new in-year adjustment Monday 4 September 2017 - 11am to midday or Monday 4 September 2017- 1pm to 2pm Changes to Inheritance Tax: Providing an overview of recent changes to Inheritance Tax, including Residence Nil Rate Band and Transferrable Nil Rate Band. This meeting was first held on 10 August. Wednesday 6 September 2017 - 11am to midday The new Trusts Registration Service: This will explain how to register a new trust and how to update the registered information for existing trusts. This meeting was first held on 10 August. Friday 8 September 2017 - 12.30pm to 1.30pm
Questions can be entered on the day or sent in advance for HMRC subject experts to team.agentengagement@hmrc.gsi.gov.uk , please include the title of the meeting in the subject line of your email.
These interactive meetings run on the ‘CITRIX’ platform. The organiser will run through how to ask questions on the day.
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HMRC Tax Agent blog - Employee Benefit Trusts 18 August 2017
HMRC Tax Agent team have published their latest blog for Tax Agents.
The blog explains the HMRC approach following the decision of the Supreme Court in July, which stated any payments made through Employee Benefit Trust should be considered a taxable income as opposed to a loan.
The decision clarified that where a sum is established as being employment earnings it cannot avoid tax by diverting or paying them to someone else. The Supreme Court’s decision impacts on a wide range of earnings-related tax avoidance schemes which include Employee Benefit Trust (EBTs), Employer-Funded Retirement Benefit Schemes (EFRB), Contractor Loans schemes and self-employed benefit schemes, known collectively as disguised remuneration (DR) schemes.
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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