The Chartered Institute of Payroll Professionals
News On Line
• Self Assessment student loan deductions and payrolled benefits in kind • VAT registration is quicker, easier and more secure through the VAT Registration Service
EU exit
• Customs Declaration Service: announcement of phased approach for exports • Just 10 days to go until the UK trader scheme closes
Making Tax Digital (MTD) •
Making Tax Digital for Income Tax Self Assessment: overview and how to keep up to date
HMRC agent services Details of live consultations and links to responses, changes to HMRC service and guidance, including: • Changes to the agent dedicated line • Changes to our probate phone line • Pay by bank account — enhancement • Art market participants online learning guide Agent forum and engagement Latest updates from the partnership between HMRC and the main agent representative bodies. Including: • Agent online forum • Issues Overview Group • MTDVAT-36306 — new registration not signed up for MTD • MTDVAT-37400 — central assessment not overwritten by submitted return • CT-35754 — Corporation Tax amendments for long accounting periods • Contact information for professional and representative Bodies
Keep an eye out for further news pieces where we will dive into some of the above topics to make sure you are fully abreast of changes that could impact you.
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Updated guidance: Employer Bulletin August 2023 Published: 5 October 2023 Emailed: 11 October 2023
HM Revenue and Customs (HMRC) has updated the ‘ Employer Bulletin: August 2023 ’.
The Employer Bulletin is a bi-monthly magazine for employers and agents that gives up to date information on payroll topics.
Further clarification has been added to the Benefits in kind — informal payrolling 2022 to 2023 article. If an employer has formally payrolled all of their benefits in kind for the 2022/23 tax year, HMRC does not need form P11D to be filed online. Employers must still work out the Class 1A National Insurance contributions (NICs) on the benefits and complete form P11D(b) online. HMRC only requires a P11D from employers with an informal agreement for the 2022/23 tax year, whereby they have started payrolling midyear. For example, an employer requested an informal arrangement to payroll benefits in kind on 1 June 2022, HMRC would need the P11D to cover the period from 6 April 2022 to 1 June 2022. From 2 June 2022 onwards, if the employer has payrolled the benefits in kind HMRC does not need a P11D to cover 2 June 2022 to 5 April 2023. Employers need to tell HMRC by using the online form PAYE notification of payrolled benefits so those benefits in kind on the P11D reflect 6 April 2022 to 1 June 2022.
You can find more information on payrolling employees: taxable benefits and expenses, this includes the link to PAYE — notification of payrolled benefits form.
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